Eneco Energy (SGX:R14) allotted and issued 504 million shares pursuant to the exercise of warrants at SG$0.009 per share, according to a Monday filing with the Singapore Exchange.
Shares of the company plunged over 9% in Tuesday trading.
Following the issuance, the company's issued and paid up capital has increased to SG$178.6 million.
The new shares are expected to be listed and quoted on or about Sept. 3.
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