Instacom likely to raise over RM8mil from exercise

Instacom CEO Anne Kung

KUCHING: Instacom Group Bhd is expected to raise a minimium of RM8.75mil from a proposed rights issue.

The fund-raising exercise will involve the issuance of 87.5 million rights shares on the basis of two new shares for every seven existing shares at 10 sen each. As a sweetener, the company has proposed to give one free warrant for every two rights shares subscribed.