Uzma to raise RM68mil via private placement

PETALING JAYA: Uzma Bhd is looking to raise up to RM68.35mil via a proposed private placement to part-finance the development expenditure for the provision of a water injection facility in an oil field, and repay bank borrowings.

In its filing with Bursa Malaysia, the oil and gas services company announced its plan to undertake a private placement of up to 15% of its total number of issued shares to third party investors to be identified later. This would entail the issuance of up to 58.08 million Uzma shares at an issue price to be determined later.