Green Ocean’s share placement plan lapses

Green Ocean's share price had surged from 12.4 sen on July 23 to a high of 35.6 sen on Monday.

KUALA LUMPUR: Green Ocean Corporation Bhd’s proposed private placement of up to 10% of its issued shares or 28.97 million new shares at 18.5 sen each has lapsed.

In a statement to Bursa Malaysia, it said the payment condition was not met and the issue price for the initial tranche of placement shares had lapsed.