KUCHING: Power and telecommunication cables manufacturer Sarawak Cable Bhd (SCB) is expected to raise some RM53.9mil from a proposed private placement to par down its borrowings.
The company said the proposal would involve the issuance of up to 31.7 million new shares representing about 10% of its issued and paid-up capital at an indicative price of RM1.70 per placement share.
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