Quick take: Bioalpha falls 5% on rights issue


KUALA LUMPUR: Shares in Bioalpha Holdings Bhd fell over 5% in early trade Wednesday after it announced its rights issue of new shares and irredeemable convertible preference shares (ICPS).

The health-supplement manufacturer fell 5.56%, or 1.5 sen to 25.5 sen with 18.9 million shares done.

Bioalpha has proposed to undertake a rights issue of up to 83.34 million new shares and a rights issue of up to 208.34 million new ICPS to raise funds primarily for the group's working capital requirements.

Bioalpha said the company's fundraising plans include a private placement of 290 million new ICPS in the group.

Bioalpha said the rights issues of new shares and new ICPS besides the private placement of the new ICPS are expected to raise gross proceeds of up to RM31.63mil for the company.

It said the rights issue of up to 83.34 million new shares will be undertaken on the basis of one rights share for every 15 existing shares held while the rights issue of up to 208.34 million new ICPS will be implemented on the basis of one rights ICPS for every six existing Bioalpha shares held.

Bioalpha said the issue prices of the rights shares and rights ICPS will be fixed and announced by the company at a later date.

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

Bioalpha , rights issue , ICPS

   

Did you find this article insightful?

Yes
No

Next In Business News

CPO futures trading to remain range bound next week
Advisory panel unanimously recommends FDA authorize Johnson & Johnson COVID-19 vaccine
GameStop rally fizzles; shares still register 151% weekly gain
NYSE begins move to delist Chinese state oil producer CNOOC
Oil price drops on US$ strength and OPEC+ supply expectations
GLOBAL MARKETS-Globals stock slide on inflation fears
AMMB says it has enough capital to absorb 1MDB global settlement�
A five-year high for FGV Holdings
AMMB to pay RM2.83bil to the government
IHH to take proactive measures

Stories You'll Enjoy


Vouchers