Global Yellow Pages proposed placement of up to 300m new shares to raise $21m

It'll fund IP rights acquisition.

According to OSK, Global Yellow Pages has entered into a conditional subscription agreement to allot and issue 300m new shares at the issue price of SGD0.07 per share, a discount of 23.7% to the volume-weighted average price of SGD0.0917, raising a total of SGD21m if fully subscribed. The proceeds will help fund the acquisition of the global intellectual property rights of Gloria's Jean's Coffee Brand and its A Grind brand. 

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