Iris among most active after inking subscription pact with Macquarie Bank

KUALA LUMPUR: Iris Corp Bhd was among the most actively traded stocks on Bursa Malaysia in the early session after the company inked a subscription agreement with Macquarie Bank Ltd on Monday.

As at 9.46 am, the counter was traded slightly lower, easing half-a-sen to 16 sen with 6.81 million shares changing hands.

In a news report yesterday, Iris Corp said the subscription agreement was in relation to the issuance and allotment of up to 100 million shares at 15 sen per share as part of its private placement exercise announced in November last year.

Iris said the proposed private placement may be implemented in a few tranches and each subscription share may be subscribed by the investor at any time within 12 months. - Bernama