“The proposed placement will enable the group to raise the requisite funds without incurring additional interest costs or servicing principal repayments as compared to bank borrowings, thereby minimising any potential cash outflow, ” it said in a filing with Bursa Malaysia
PETALING JAYA: Iskandar Waterfront City Bhd
(IWCity) has proposed a private placement exercise to raise up to RM40.19mil.
The diversified property developer and construction group said it is proposing to undertake a private placement of up to 83.74 million shares, representing 10% of the total number of issued in IWCity, at 48 sen per share.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
