Ni Hsin plans rights issue

In a filing with Bursa Malaysia, the company said it had proposed a renounceable rights issue of up to 960,100,350 RCPS at an issue price of one sen per share on the basis of two RCPS for every one existing ordinary share in Ni Hsin. (File pic: Ni Hsin products)

PETALING JAYA: Ni Hsin Resources Bhd is looking to raise between RM3mil and RM9.6mil through a rights issue of redeemable convertible preference shares (RCPS) and diversify into the food and beverage (F&B) business.

In a filing with Bursa Malaysia, the company said it had proposed a renounceable rights issue of up to 960,100,350 RCPS at an issue price of one sen per share on the basis of two RCPS for every one existing ordinary share in Ni Hsin.