Cypark proposes private placement

In its exchange filing, Cypark said the proposed private placement would involve up to 105 million new ordinary shares, representing up to 20% of the total number of issued shares in the company, at a price that would be determined and announced later. (File pic shows a Cypark solar project)

PETALING JAYA: Cypark Resources Bhd has proposed to undertake a private placement to raise up to RM108.2mil to strengthen its renewable energy (RE) business.

In its exchange filing, Cypark said the proposed private placement would involve up to 105 million new ordinary shares, representing up to 20% of the total number of issued shares in the company, at a price that would be determined and announced later.