Leform secures Nippon Steel Trading unit as strategic investor via private placement

From left: Leform Bhd managing director Law Kok Thye, Leform independent non-executive chairman Datuk Seri Akhil Bulat, NST Trading Malaysia Sdn Bhd managing director Satoshi Shinozuka and NST Trading Malaysia general manager Lim Unn Ling.

KUALA LUMPUR: Leform Bhd has entered into a share subscription agreement (SSA) with NST Trading Malaysia Sdn Bhd (NSTM), a wholly owned subsidiary of Nippon Steel Trading Corporation, for the subscription of new shares under the group’s ongoing private placement exercise.

The steel pipes and flat steel products specialist, in a statement, said that under the SSA, NSTM will subscribe for 148.1 million new ordinary shares in Leform pursuant to the group’s private placement of up to 10% of its existing issued share capital.