HB Global proposes private placement to raise RM23.1mil

HB Global executive director Keh Chuan Yee

KUALA LUMPUR: HB Global Ltd has proposed to undertake a private placement of up to 154 million new ordinary shares in the group, representing 20% of the existing issued shares.

HB Global said the placement shares would be issued based on a discount of not more than 20% to the volume-weighted average market price of HB Global shares for the five market days immediately preceding the price-fixing date.