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| Hyflux |
Hyflux has the option to increase the offer size to S$400 million if applications received exceed the S$200 million offer size, the firm said in a statement. [ID:nSNZ840Ml0]
The Class A preference shares carry a dividend rate of 6 percent per annum and will be cumulative, non-convertible and non-voting.
The offer will be open to the public on April 14 and close on April 20. DBS Bank is the sole lead manager and bookrunner of the offer.
The firm had requested a trading halt on Tuesday after the Singapore market closed.($1 = 1.256 Singapore Dollars)
Preference stock is an hybrid instrument that has properties of both an equity and a debt instrument.
Sources: http://www.reuters.com
