Market doesn’t seem to have an issue with such a big placement since there is no sell-down and in fact it surges forward.

Biosensors: PLACEMENT OF 216,325,800 NEW ORDINARY SHARES AT AN ISSUE PRICE OF S$0.9283 PER PLACEMENT SHARE
The Placement Shares represent approximately 19.55% of the existing issued and paid-up share capital of the Company as at the date of this Announcement and will represent approximately 16.35% of the enlarged issued and paid-up share capital of the Company after the issue of the Placement Shares.

Upon allotment and issue, the Placement Shares will rank pari passu in all respects with the then existing Shares of the Company at the date of their issue.

The Placement Price of S$0.9283 for each Placement Share represents a discount of approximately 10% to the weighted average price of S$1.0314 per Share for trades done on the Singapore Exchange …