KNM Group to raise RM167.9mil


In a filing with Bursa Malaysia, it said up to 493.76 million placement shares, which represents 50% of the total placement shares, will be placed to its executive vice-chairman and major shareholder Gan Siew Liat.

KUALA LUMPUR: KNM Group Bhd has proposed a private placement of up to 987.52 million new shares, representing 30% of its share capital, to raise RM167.9mil, mainly to repay bank borrowings.

In a filing with Bursa Malaysia, it said up to 493.76 million placement shares, which represents 50% of the total placement shares, will be placed to its executive vice-chairman and major shareholder Gan Siew Liat.

The balance shares will be placed to other independent investors to be identified at a later date.

Based on the volume weighted average market price of KNM shares for the five market days immediately preceding the price fixing date, the issue price of the placement shares to Gan will be 18 sen apiece while the issue price for the remaining shares will be at 16 sen each.

This will raise gross proceeds of about RM167.9mil.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

KNM Group , Gan Siew Liat , repay , bank , borrowings ,

   

Next In Business News

Bank Negara launches new alternative reference rate
RAM Ratings: Interest waiver to hit banks’ earnings recovery
FBM KLCI finishes 7.28 points lower
China shares end lower as materials weigh; property sector down
EPF to help members restore and rebuild their nest eggs
EPF 1H investment income up 25% to RM34.05b
Asian stock markets wobble as China Evergrande woes sap confidence
Bursa Securities queries SAM after share price spike
Govt should use data as an economic driver, SERI says
VS Industry posts record FY21 net profit of RM245.3mil

Stories You'll Enjoy


Vouchers