Magma Group gets Bursa Malaysia approval for RCN issuance

Magma Group Bhd group managing director Datuk Seri Thomas Liang Chee Fong

KUALA LUMPUR: Magma Group Bhd has obtained Bursa Malaysia Securities Bhd’s approval for the listing and quotation of up to 1.0 billion new shares through redeemable convertible notes (RCN), subject to shareholder approval.

The hospitality and investment holding group said in a statement that the issuance could potentially raise up to RM100mil upon completion.