Malayan Cement completes placement


The placement price was fixed at RM2.79 per share, reflecting a discount of 9.92% on the five-day volume weighted average price of RM3.0971.

KUALA LUMPUR: Malayan Cement Bhd has successfully completed its private placement of 85 million new shares with an oversubscription of 1.13 times.

The placement price was fixed at RM2.79 per share, reflecting a discount of 9.92% on the five-day volume weighted average price of RM3.0971.

“We are delighted that the offering has been met with strong support from investors, given the prevailing volatility of the local market. The success of this placement attests to the appreciation for the fundamental values that underline Malayan Cement’s business, ” managing director Datuk Seri Michael Yeoh said in a statement.

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