Assuming the full exercise of 88.34 million warrants at an exercise price of 12 sen each, SM Track would raise about RM10.60mil for its working capital.
KUALA LUMPUR: SMTrack Bhd has scrapped its proposed free warrants issue of up to 88.34 million units, which would have raised RM10.60mil when exercised, due to the current market conditions.
The company, which is involved in track and trace solutions using radio frequency identification (RFID), said on Tuesday the corporate exercise would have involved the one free warrant for every two shares held.
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