SCIB plans RM66.88mil private placement

They also gave the greenlight to resolutions on the proposed allocation of 6.1 million placement shares to SCIB chairman Datuk Mohd Abdul Karim (pic) and 5.75 million placement shares to managing director and chief executive officer Rosland Othman.

KUCHING: Sarawak Consolidated Industries Bhd (SCIB) expects to raise up to RM66.88mil from a private placement to fund its ongoing construction projects overseas and future projects.

The company will issue up to 36.75 million new shares, representing up to 42.8% of the total shares of 85.88 million units, to interested directors and third-party investors, at RM1.82 per share.