Eversendai executive chairman Tan Sri A K Nathan (pic) said the issuance of the proposed free warrants was to provide funds for the group to pare down its borrowings and working capital.
KUALA LUMPUR: Eversendai Corp Bhd
has proposed to undertake the proposed issuance of up to 390.55 million new free warrants on the basis of one warrant for every two existing ordinary shares held by its shareholders.
In a statement yesterday, the company said the entitlement date will be determined and announced during the its upcoming AGM.
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