Temporary flexibility for rights issue


The rights issue exercises implemented with mandate obtained under the temporary relief measure are subjected to certain conditions

PETALING JAYA: The Securities Commission (SC) and Bursa Malaysia has announced a temporary relief measure allowing eligible listed issuers to obtain mandated shareholder approval at a general meeting to undertake rights issue exercises.

In a joint statement, the capital market regulators said this temporary flexibility to allow expedited right issue exercises by public listed companies (PLCs) and listed real estate investment trusts (REITs) would be introduced via an enhanced rights issue framework, which would allow eligible PLCs and REITs to issue new rights shares or units to their existing securities holders on a pro rata basis, up to 50% of the total number of issued shares or issued units.

“The rights issue exercises implemented with mandate obtained under the temporary relief measure are subjected to certain conditions, for example, such rights issue must be a plain vanilla issuance where it can only be utilised for ordinary shares or units and not any other types of securities such as warrant or convertible shares, ” they said.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 18
Cxense type: free
User access status: 3
   

Did you find this article insightful?

Yes
No

Next In Business News

Tencent shares drop after nearing US$1 trillion valuation
Ringgit reverses recent losses against greenback
Quick take: Key ASIC rises 16% on new contract
Bursa rebounds, Public Bank, semicon top gainers
Quick take: Hartalega falls despite posting record profit
S&P assigns BBB minus to Genting NY, outlook negative
Trading ideas: Hartalega, IGB Reit, Bioalpha, Key ASIC, KNM, Kerjaya
Uncertain near-term outlook for IGB REIT
Hartalega earnings exceed expectations, says Kenanga
Wall Street grows wary of stock bubbles

Stories You'll Enjoy


-->