PETALING JAYA: PUC Founder (MSC) Bhd’s 28-for-20 rights issue of up to RM83.9mil nominal value of irredeemable convertible unsecured loan stocks (Iculs) with warrants is undersubscribed by 42.8%.
In a filing with Bursa Malaysia, the media planning and e-payment service provider said that in spite of the undersubscription, the minimum subscription level of RM28mil nominal value of the three-year rights Iculs (37.53% of total issue) had been achieved and that the company would proceed with the rights issue of Iculs with warrants.
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