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announcement 11 & 12 nov 2024. Mega Fortris Global Pte Ltd substantial shareholder with 65% interest "offer for sale" 147,871,000 units to institutional and selected investors 80,273,000 units and investors approved by MITI 67,598,000 (IPO prospectus page 23)
so many time private placement fund raising. at the end where the money from fund raising went to? directors and top management got better paid but the shareholders got price drop and diminution in value.