May 24 (Reuters) - Raffles Capital Ltd (RAF) : Entered into a...

May 24 (Reuters) - Raffles Capital Ltd (RAF) :

• Entered into a binding 'Heads of Agreement'
• Plans to conduct a capital raising under a full form prospectus to raise up to $10 million
• Agreement for acquisition of all securities in Singapore domiciled Gashubin Engineering and Gashubin Technology
• Says Raffles Capital Limited to acquire Gashub Companies
• Says Gashub Group managing director Lim Shao-Lin expected to hold about 40.2 pct of listed entity after completion of deal