Ho Hup to raise RM13m via rights issues, preference shares

PETALING JAYA: Ho Hup Construction Co Bhd has proposed to raise up to RM136.22mil via the issuance of rights issues and redeemable preference shares to finance its construction and property development projects.

In a statement, Ho Hup said the proposed fund-raising exercise would involve the issuance of up to 85.14 million rights shares on the basis of one rights share for every five existing shares held in the company as well as an issuance of up to 85.14 million redeemable preference shares at the same ratio.