Catalist-listed pawnbroker MoneyMax Financial Services will transfer to the mainboard of the Singapore Exchange (SGX) on May 6, it said on Thursday (Apr 30).

The transfer will enhance the long-term value for its shareholders, the company said in January. Being on the mainboard will also boost its image and give it greater visibility and recognition, the company added.

MoneyMax on Monday also completed the placement of 53 million new ordinary shares at S$0.835 per share, raising S$44.3 million. They represent about 5.7 per cent of the previous total of 937.5 million MoneyMax shares.

“With the completion of this placement, we have fulfilled the requirements for the transfer (to the mainboard),” said Dr Lim Yong Guan, executive chairman and chief executive of MoneyMax.

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