Serba Dinamik raises RM508.6m from new shares placement


As part of the private placement, Serba Dinamik said it would issue 56.29 million shares or 1.7% of the existing total number of issued shares, to Datuk Dr Mohd Abdul Karim Abdullah Karim.

KUALA LUMPUR: Serba Dinamik Bhd raised RM508.61mil from the issuance of 336.83 million new shares following strong interest from funds.

It said on Friday the proposed private placement attracted demand from both local and foreign institutional investors, with the order book being oversubscribed by approximately 1.85 times.

Serba Dinamik said the issue price for the placement shares was fixed at RM1.51 per share, or a discount of 8.1% to the five-day volume weighted average market price of shares up to and including Jan 21 of RM1.6438.

The book-building exercise was carried out by Affin Hwang IB, Credit Suisse Securities (Malaysia) Sdn Bhd, Credit Suisse Securities (Singapore) Ltd and RHB Investment Bank Bhd.

As part of the private placement, Serba Dinamik said it would issue 56.29 million shares or 1.7% of the existing total number of issued shares, to Datuk Dr Mohd Abdul Karim Abdullah Karim.

The proposed placement to Karim is expected to raise gross proceeds amounting to approximately RM85mil.

The private placement of 336.83 million, represented about 10% of its issued shares of 3.36 billion shares (excluding 22.06 million treasury shares as at Nov 30).

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