ICP places 460m new shares at 0.85 Singapore cent apiece to CMIA

Singapore

HOTEL management company ICP has placed S$3.9 million worth of new shares representing a 14.78 per cent post-deal stake to private equity firm CMIA Capital Partners.

The 460 million new ICP shares were priced at 0.85 Singapore cent apiece, which was a discount of about 3.41 per cent to the stock's 0.88 Singapore cent volume weighted average price on Jan 10. The shares traded at 0.8 Si…