PETALING JAYA: Uzma Bhd has proposed to undertake a private placement to raise up to RM17.6mil for capital expenditure as well as to fund part of its operational expenditure.
In its filing with the stock exchange, the oil and gas company said the exercise would entail the issuance of up to 32 million new ordinary shares in the company, representing 10% of the existing total number of issued shares (excluding treasury shares), to independent third-party investors to be identified and at an issue price to be determined later.