PETALING JAYA: UMW Holdings Bhd
has proposed to undertake a renounceable rights issue to raise up to RM1.1bil to finance its proposed takeover of MBM Resources Bhd and an additional stake in Perusahaan Otomobil Kedua Sdn Bhd (Perodua).
In its filings with Bursa Malaysia, UMW said the entitlement basis for the proposed rights issue and the issue price for the rights shares would only be fixed at a later date.
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