T7 Global plans to place out shares to raise RM42mil

T7 Global chairman Datuk Seri Nik Norzrul Thani Nik Hassan Thani said the fund raising via the placement was necessary due to the substantial capital required by end of this year.

PETALING JAYA: Oil and gas service provider T7 Global Bhd has proposed to raise up to RM42mil via a private placement to partially fund its three ongoing projects.

The firm said it plans to issue up to 117 million new shares or 20% of the total issued shares to a third-party investor, or investors.