PETRA PERDANA BHD (PPB) has proposed a private placement of 6.15 million shares or 10% of its capital at RM7.65 a piece. Upon completion of the private placement, PPB will undertake a share split, whereby every existing one PPB share will be subdivided into two PBB split shares. Proceeds of RM47.04mil to be raised from the proposed private placement would be used for working capital and the estimated expenses of the proposals. – Bernama
APP INDUSTRIES BHD has acquired the balance shares in three subsidiary companies – Asian Earthernware Sdn Bhd, Asian Porcelain Sdn Bhd and Asian Pottery Manufacturers Sdn Bhd – from Asian Pottery (Penang) Sdn Bhd for RM1.093mil. With the acquisition of the subsidiary companies, APPI would complete its restructuring scheme. – Bernama
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