Intercity Internet (Singapore) Co., Ltd. announced a placement of common shares for gross proceeds of SGD 2,100,000 on March 22, 2023. The transaction will include participation from returning investor, Capitalonline Data Service Co., Ltd. continuing to retain its 100% stake. The transaction has been approved at the 14th meeting of the fifth board of directors of Capitalonline Data Service Co., Ltd. and does not need to be approved by the general meeting of shareholders.

After the capital increase, the registered capital of the company will increase from to SGD 3,000,000.