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Brief: Albedo updates on subscription agreement

Jan 4 (Reuters) - Albedo Ltd  ABDM.SI : 
 * Says proposed placement of 100 million new ordinary shares in the capital of the company 
 * Says placee will agree to subscribe for an aggregate of 100 million new ordinary shares at an issue price of s$0.01 
 * Says company intends to use up to 70% of the share placement net proceeds for the group's growth and expansion 
 * Says entered into a subscription agreement with toh ee han 
 * Source text for Eikon  ID:nSNZ7qsJHF  
 
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