Poor response to Yanion issue

YANION International Holdings has announced that its one-for-two issue of 161.35 million new shares has only been about 65 per cent subscribed.

The company said 45 applications had been received for 104.926 million shares.

It had planned to raise about $29 million from the new shares - available at 18 cents each - and use the funds raised to repay loans and for product development.