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.
The issue price for any subsequent tranche will be determined and announced by the company separately.
Last week, the semiconductor company announced its plan to raise as much as RM400mil from a proposed private placement of new shares to investors. The placement would involve 72.7 million new shares at an assumed issue price of RM5.50 each.
Proceeds from the fund-raising exercise will be used to expand the group’s factories in Ipoh, Perak, and Chengdu, China.
“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.
As of Aug 3, the company had yet to comply with the minimum 25% public shareholding spread as required by Bursa Malaysia
The public shareholding spread of the company was at 15.33%, or a shortfall of 9.67% from the required level.
“The proposed private placement, when completed, is expected to improve the public shareholding spread of the company to 23.03%, ” it said.
The company will still have a 1.97% shortfall upon completion of the proposed exercise.
“The company and Huatian Technology (Malaysia) Sdn Bhd will continue to work on addressing the shortfall in the Public Spread Requirement by Dec 31,2020 or any extended period as may be approved by Bursa Securities, ” it had said
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