Unisem fixes first tranche of shares at RM5.50 each

“The proposed private placement is mainly undertaken to improve the public shareholding spread of the group and potentially increase the liquidity of Unisem shares, ” it had then said in a filing with Bursa Malaysia. (File pic shows Unisem factory)

PETALING JAYA: Unisem (M) Bhd has fixed the first tranche of 51.63 million shares under its private placement at RM5.50 per share which will enable it to raise RM284.96mil.

It said in a statement that the RM5.50 per placement share was 1.9% below the five-day volume weighted average market price up to last Friday of RM5.6084 per share.