Metech International Limited (SGX:V3M) issued and allotted 18 million new shares at SG$0.028 each to a lender, converting SG$504,000 of debt into equity, according to a Wednesday filing on the Singapore Exchange.
Following the issuance, the company's total outstanding shares increased to 187.6 million from 169.6 million.
The new shares carry the same rights as existing shares and will be listed on the Singapore Exchange's Catalist board from April 4.
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