KUALA LUMPUR: Ho Wah Genting Bhd
has proposed to undertake an issuance of redeemable convertible notes with an aggregate principal amount of up to RM60mil, which will mature 36 months from the closing date of the proposed issuance.
uIn a filing with Bursa Malaysia, the company said it entered into a conditional subscription agreement with Advance Opportunities Fund VCC, Advance Opportunities Fund 1 and Advance Opportunities Fund to undertake the said issuance. The proposed issuance will be undertaken in three tranches, subject to the terms and conditions as set out in the subscription agreement.
“Proceeds from the proposed issuance will mainly be utilised for working capital, including investments and expansion of business activities, and repayment of existing financing facilities,” it said. — Bernama
