MCT fixes placement price, will raise RM384mil

Goh (left) and Tong have emerged as substantial shareholders in GW Plastics with 42.68 and 22.98, respectively.

PETALING JAYA: Property developer MCT Consortium Bhd, which is undertaking a reverse takeover (RTO) of GW Plastics Holdings Bhd, has fixed an offer price of RM1.28 per new placement share post-bookbuilding exercise.

The issue price of RM1.28 per share will raise gross proceeds of RM384mil for the company. The exercise will see the vendors of the RTO, namely, Tan Sri Goh Ming Choon and Datuk Seri Tong Seech Wi, raising RM195mil.