HealthBank Plans Private Placement to Raise Approximately S$1.196 Million for Working Capital Supplement

NewTimeSpace News: On March 30, 2026, HealthBank released an announcement disclosing that it had entered into separate subscription agreements with two investors, Mr. Quah Chee Keong and Mr. Lu Zhixian, on March 28 to conduct a private share placement.

According to the announcement, a maximum of 31.65 million new shares are to be placed in this exercise, with each investor subscribing for 15.825 million shares at an issue price of S$0.0378 per share, representing a total cash consideration of approximately S$1.19637 million. After deducting issuance expenses, the net proceeds from the placement will amount to around S$1.181 million.

HealthBank stated that all the raised funds will be used for the company's daily working capital, including due diligence expenses related to potential investment projects. Idle funds will be deposited in banks and/or invested in short-term money market instruments.

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