WCT’s cash call, warrants to raise RM682m

The engineering, construction and property-based group on Monday proposed a one-for-10 renounceable rights issue of up to 143.2 million new 50 sen ordinary shares and a sweetener is one warrant for five shares totalling 315.1 million new warrants (warrants E).

That translates into gross proceeds of up to RM143.2mil (net proceeds: RM141.2mil, after deducting RM2mil in expenses). The proceeds would be used to be to pay its sub-contractors.