Unisem fixes price for last tranche of new shares at near record high


KUALA LUMPUR: Unisem (M) Bhd has priced the last tranche of its new shares to be placed out at near record high, as global shortage of electronic chips fuelled investors' demand for semiconductor stocks.

CIMB Investment Bank Bhd, on behalf of the company told the stock exchange today that the issue price of the remaining 21.08 million Unisem shares has been set at RM7.70 each.

This was a 7% premium compared with the five-day volume weighted average market price up to Jan 19 of RM7.19 a share.

The stock was last traded at RM7.79 on Wednesday.

On Nov 17, Unisem announced a plan to issue up to 72.7 million new shares, or 10% of its share capital, to raise as much as RM400mil.

Proceeds from the fund raising exercise will be used to expand the group factories in Ipoh, Perak and in Chengdu, China.

On Nov 23, it sold 51.6 million new shares at RM5.50 each.

Shares in the company and its peers in the semiconductor industry have surged as investors bet that the current global shortage of electronic chips that had forced carmakers including Toyota and Volkswagen to scale down their production would boost their profits.

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

Unisem , semiconductor , private placement

   

Did you find this article insightful?

Yes
No

100% readers found this article insightful

Next In Business News

Chinese banks, Australia's Macquarie tiptoe into Asian oil finance void
Australia's Afterpay to explore global listing as first-half sales double
GameStop stock doubles; even Reddit is surprised
Data-focused Powell paves way for era of extended loose Fed policy
Oil price rises after data shows slump in US output amid Texas freeze
Wall Street finishes up as Fed's Powell soothes inflation fears
Tenaga to power on with RE
Improvement on the cards
Seda appoints new CEO
Glove stock valuations hit rock bottom after rout

Stories You'll Enjoy


Vouchers