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UMW proposes RM1.1bil rights issue in takeover of MBM Resources


UMW Holdings Bhd has proposed a renounceable rights issue to raise up to RM1.10bil.

UMW Holdings Bhd has proposed a renounceable rights issue to raise up to RM1.10bil.

KUALA LUMPUR: UMW Holdings Bhd has proposed a renounceable rights issue to raise up to RM1.10bil to repay a bridging loan to finance the purchase of MBM Resources Bhd and Central Shore Sdn Bhd.

It said on Tuesday the corporate exercise would be to acquire to all the MBM Resources shares held by Med-Bumikar Mara Sdn Bhd and Central Shore (a unit of Med-Bumikar) representing a 50.07% stake.

   

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