YGM to place 8 million shares

PUBLISHED : Monday, 13 May, 1996, 12:00am
UPDATED : Monday, 13 May, 1996, 12:00am

Garment merchant YGM Trading has announced a private placement of eight million shares to institutions and other investors for $7 a share, a 1.45 per cent premium to their closing price prior to suspension on May 9.

The placing is effected by the sale of shares by an existing shareholder, Canfield Holdings, which has a 59.5 per cent stake in YGM.