OCK in subscription accord with LTAT

KUALA LUMPUR: OCK Group Bhd has entered into a subscription agreement with Lembaga Tabung Angkatan Tentera (LTAT) for the placement of 25.9 million shares, representing 10% of its issued and paid-up capital.

The placement shares have been fixed at an issue price of 47 sen per placement share, which represents a discount of approximately 9.75% to the five-day weighted average market price of OCK shares. “With the proceeds of RM12.17mil, the group intends to utilise the funds for its regional expansion plans and working capital,” it said in a statement.