YB Ventures plans to raise up to RM146mil


In a filing with Bursa Malaysia yesterday, the company said the proposed private placement would be to install a rooftop solar photovoltaic (PV) system at its factory building and warehouse in Kulai, Johor Bahru, future viable investments, and working capita

KUALA LUMPUR: Tiles manufacturer and information technology (IT) company YB Ventures Bhd has proposed to undertake a private placement of up to 20% of its total number of issued shares to raise between RM21.1mil and RM145.9mil.

In a filing with Bursa Malaysia yesterday, the company said the proposed private placement would be to install a rooftop solar photovoltaic (PV) system at its factory building and warehouse in Kulai, Johor Bahru, future viable investments, and working capital.

The private placement is expected to be placed to third-party investors at an issue price that would be fixed at a later date.

According to the group, the placement shares would be issued at a price of not more than 10% discount to the five-day volume-weighted average market price (VWAP) of YB Ventures shares immediately preceding the price-fixing date.

It said the indicative issue price of the placement shares is assumed at 43.7 sen, representing a discount of 9.93% to the five-day VWAP of the group’s shares up to and including the latest practicable date (as at Sept 20, 2021) of 48.52 sen per share.

In a separate statement, executive director Datuk Au Yee Boon said the proposed private placement exercise would enable the group to raise additional funds without incurring interest costs as compared to conventional bank borrowings. — Bernama

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights
   

Next In Business News

Destini secures RM531.4mil contract from MoT
Ringgit ends unchanged versus US dollar
SCIB secures EPCC contract worth RM38mil
Sarawak Oil Palms' 1Q net profit jumps to RM194mil
Boustead Plantations’ net profit surges to RM435mil in 1Q
Compelling measures taken, SMG poised for a turnaround
FBM KLCI pares losses but still in red
MPC: Oil palm sector risks losing RM28bil in 2022 without foreign workers
Bank Negara international reserves down to US$111.4bil
Indonesia set to resume palm oil exports but policy uncertainty persists

Others Also Read