A lot of people will be selling the shares when trading is allowed based on right price of $0.00543
On Oct 11, the company announced a non-underwritten, renounceable rights issue of 607.5 million rights shares at a ratio of 2 new shares for 1 existing share at a price of $0.00543 to raise $3.3 million, the proceeds of which will be used for working capital purposes.
Shares in Hiap Seng closed flat at 2 cents on Nov 14.
Hiap Seng Engineering back in the black with earnings of $875,000 for 1HFY2024
https://www.theedgesingapore.com/capita ... 0-1hfy2024