Magma plans RCN issuance up to RM100mil

KUALA LUMPUR: Magma Group Bhd has proposed to undertake the issuance of redeemable convertible notes (RCN) with an aggregate principal amount of up to RM100mil.

The group yesterday entered into a conditional subscription agreement with Advance Opportunities Fund VCC and Advance Opportunities Fund 1 (collectively, subscribers) to undertake the proposed notes.