SEBB plans rights issue with warrants to raise up to RM63.95m

PETALING JAYA: SC Estate Builder Bhd (SEBB) plans to undertake a rights issue with warrants to raise up to RM63.95mil for its proposed diversification into construction and for expanding the range and volume of its products.

In a filing with Bursa Malaysia, the building materials trader, formerly Flonic Hi-Tec Bhd, also proposed a par value reduction involving the cancellation of four sen from the par value of its five-sen shares to give rise to a credit of up to RM51.16mil to offset its accumulated losses.