Financial Wire

InnoTek Completes SG$16 Million Private Placement

-- InnoTek (SGX:M14) raised SG$16 million through the private placement of 24.6 million shares at SG$0.6506 each, according to a Wednesday filing with the Singapore Exchange.

Shares of the precision components manufacturer were down over 1% in Thursday trading.

Proceeds will be deployed for initiatives in AI server components, liquid cooling, and new energy.

Separately, the company's chief executive officer, Lou Yiliang, will undertake a vendor share sale on April 20, selling 6.15 million shares at SG$0.6506 each to raise about SG$4 million.

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