First Sponsor Group Utilizes Rights Issue Proceeds for European Projects

Tip Ranks
2025.07.28 14:42
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First Sponsor Group Ltd has announced the allocation of approximately S$34.5 million from its Rights Issue proceeds of S$243.2 million for property-related activities in Europe, including acquisitions and renovations. As of June 30, 2025, S$158.9 million has been utilized, leaving S$84.3 million remaining. The company will continue to update stakeholders on the remaining funds' disbursement. First Sponsor Group Ltd focuses on property holding, development, and financing activities primarily in Europe.

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First Sponsor Group Ltd ( (SG:ADN) ) has shared an update.

First Sponsor Group Ltd has announced the utilization of approximately S$34.5 million from its Rights Issue proceeds, which totals S$243.2 million. The funds have been allocated to various property-related activities in Europe, including acquisitions, renovations, redevelopments, and financing. As of June 30, 2025, S$158.9 million of the proceeds have been used, with S$84.3 million remaining. The company plans to continue updating stakeholders on the disbursement of the remaining funds.

More about First Sponsor Group Ltd

First Sponsor Group Ltd is a company incorporated in the Cayman Islands, focusing on property holding, development, and financing activities, primarily in Europe.

Average Trading Volume: 4,852

Technical Sentiment Signal: Hold

Current Market Cap: S$1.19B

For a thorough assessment of ADN stock, go to TipRanks’ Stock Analysis page.

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