BIMB Securities opined that the dilution impact is greater than what was thought.
PETALING JAYA: Sapura Energy Bhd
’s issuance of redeemable convertible loan stocks (RCLs) to the Ministry of Finance Inc (MoF) at RM0.024 per share, or RM0.48 per consolidated share has come as a surprise.
In a report, BIMB Securities Sdn Bhd opined that the dilution impact is greater than what was thought, for the RCLs will be roughly at a 40% discount to market price.
