LKL unit buys 12,21% stake in Vizione for RM20mil cash

KUALA LUMPUR: LKL International Bhd’s wholly-owned subsidiary LKL Advance Metaltech Sdn Bhd (LKLAM) has acquired 250 million shares, representing a 12.21% stake in Vizione Holdings Bhd for RM20mil cash.

In a filing with Bursa Malaysia, LKL said the acquisition was via the subscription of the excess rights shares with free warrants issued pursuant to the renounceable rights issue of new ordinary shares in Vizione (rights shares) on the basis of one rights share for every one existing ordinary share held in Vizione, together with the free detachable warrants on the basis of one warrant for every two rights shares subscribed for.