Mudajaya fixes placement share price at RM1.15

Mudajaya's expertise is also in power plants

KUALA LUMPUR: Mudajaya Group Bhd has fixed the issue price for its 53 million shares to be placed out at RM1.15 each.

Mudajaya, which is involved in construction and the power sector, said on Thursday that at RM1.15, it was a premium of 7.42% to the five-day volume weighted average market price of the shares up to and including Sept 20.

The 53 million shares account for about 9.84% of its issued shares and would enable it to raise RM60.95mil

In the second quarter ended June 30, 217 it posted narrower losses at RM24.5.25mil versus RM75.96mil a year ago.

In the first half, net losses were lower also at RM51.01mil from RM70.11mil the previous corresponding period.