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Singapore stock market and companies daily report (Midas Hldgs, Asia Pacific Breweries) (March 04, 2010)

Contributed by Shares Investment

By Shares Investment

Midas Plans Global Offer For HK Dual-Listing
Midas Hldgs has yesterday announced that is intended dual-listing in Hong Kong shall be by way of a global offering of new shares. The company plans to offer up to 300m new shares at a discount of not more than 10% to its Singapore share price. Midas may also grant an over-allotment option of 40m new shares which, if fully exercised, would mean a total issuance of 340m new shares. The company reiterated that the rationales behind the Offer are to widen the company’s investor base to institutional and retail investors in Hong Kong, create an additional channel to raise capital, and raise the company’s profile in Hong Kong.

Asia Pacific Breweries Issues 4th Series Of $40m Notes
Asia Pacific Breweries (APB) has announced that it has issued a 4th series comprising $40m in fixed rate notes under its $1b multicurrency medium term note programme established in April last year. The company will use the net proceeds from the issue to repay part of the company’s short-term bank borrowings used for the purpose of acquiring stakes in Grande Brasserie de Nouvelle Caledonie and Multi Bintang Indonesia, as well as the Bintang brand.

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