Singapore’s Allied Technologies has raised $18.6 million through a private placement to four investors while Gloria Mansion at Pasir Panjang Road is put up for an en bloc sale for $58.4 million.

Allied Tech raises $18.6m in private placement

Manufacturing services provider Allied Technlogies Ltd on Monday raised S$25.2 million ($18.6 million) by selling 420 million shares at 6 cents each to four investors in a private placement, said the company in a filing to the local exchange.

The proceeds will be used to fund potential acquisitions to further expand and strengthen its service offerings in its new e-commerce business segment.

The four investors were Evercore Multii-Strategy Global, CBK Holdings, Quantum Global and Malaysian investor Thoon Mee Ting. Evercore and CBK each took up a 4.52 per cent stake while Quantum Global and Thoon took up 10.73 per cent and 3.95 per cent respectively.

Gloria Mansion at Pasir Panjang up for sale at $58.4m

Gloria Mansion at Pasir Panjang Road in the city-state has been put up for an en bloc sale at S$79 million ($58.4 million) or S$1,234 ($912.3) psf, according to a report in the Business Times,.

With a gross floor area of 64,039 sq ft, the 12-storey apartment comprises 31 units and is five minutes away from Haw Par Villa MRT Station.

Marketing agent Huttons Asia said the buyer could keep the existing building and the site can be developed into a 84-unit condominium block with each unit at about 70 sq m.

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