Furniweb proposes rights issue

PETALING JAYA: Furniweb Industrial Products Bhd (FIPB) has proposed to undertake a renounceable rights issuance of up to 54.45 million rights shares at an issue price of 55 sen per rights share.

This, according to a Bursa Malaysia announcement, was on the basis of three rights shares for every five existing FIPB shares held together with up to 54.45 million warrants on the basis of one warrant for every one rights share subscribed for on an entitlement date to be determined later.