KUALA LUMPUR: Unisem (M) Bhd intends to complete the placement of the remaining 21.07 million shares or a 2.9% stake by May 16 this year to meet the public shareholding spread.
The chip maker announced on Wednesday Bursa Securities had given it an extension of six months until June 30 to meet the public spread.
It added shortly after the completion of the private placement, the company also intends to resell its 6.74 million treasury shares on the open market.
“Thereafter, Huatian Technology (Malaysia) Sdn Bhd intends to fulfil its undertaking to sell the required number of its Unisem shares to address the shortfall in the public spread requirement, ” it said.
Unisem said as at Dec 31 last year, the public shareholding spread was at 20.95%. This was a shortfall of 4.05% from the public spread requirement.
On Nov 17, the board of directors approved the implementation of the private placement of up to 10% of the issued shares (excluding treasury shares) totalling up to 72.70 million shares at an issue price to be determined upon completion of the book-building exercise for the placement shares.
On Nov 23, the company fixed the issue price of the placement shares under the first tranche of the private placement – 51.63 million shares (7.1%) at RM5.50 per share.
The 51.63 million placement shares were issued and allotted on Nov 27, with the remaining 21.07 million shares or a 2.9% stake to be placed out within six months.
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