PETALING JAYA: Integrated chemical group, Ancom Nylex Bhd
, is proposing to undertake a private placement of up to 10% of its issued shares.
In a statement, Ancom Nylex said it had entered into a conditional placement agreement with Germany-based chemical firm, Helm AG, for the proposed private placement at an issue price of RM1 per Ancom Nylex.
“Upon completion of the proposed private placement, Helm AG will emerge as a substantial major shareholder of Ancom Nylex.”
Based on the issue price, the proposed private placement is expected to raise gross proceeds of up to approximately RM96.2mil.
According to Ancom Nylex, RM56mil will be utilised for the repayment of borrowings; RM39.2mil will be allocated for general working purposes; and RM1mil will be for the estimated expenses for the proposed private placement.
“The proposed private placement is expected to be completed by the fourth quarter of 2024, barring any unforeseen circumstances,” it said.
Founded in 1900, Helm AG is one of the world’s major independent chemicals marketing and distribution companies.
With over 100 subsidiaries and a global presence in more than 30 countries, Helm AG operates across key business lines including chemicals, crop solutions and energy materials.
