Eastland plans rights issue with warrants

In its filings with Bursa Malaysia, the hospitality and property investment company said proceeds from the exercise are intended to repay up to RM40mil of the group’s bank borrowings.

PETALING JAYA: Eastland Equity Bhd has proposed to undertake a renounceable rights issue with free detachable warrants to raise up to RM80mil.

In its filings with Bursa Malaysia, the hospitality and property investment company said proceeds from the exercise are intended to repay up to RM40mil of the group’s bank borrowings. The issue price and entitlement date for the exercise would be determined and announced later.