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Thursday, November 28, 2013

Kimlun's rights issue gets Bursa Securities nod

Source: http://www.thestar.com.my/Business/Business-News/2013/11/27/Kimlun-rights-issue-gets-Bursa-Securities-nod.aspx

Kimlun said on Wednesday the exercise involved 60.11 million new rights shares of 50 sen on the basis of one rights shares for every four existing shares held and 60.112 free detachable warrants on the basis of one warrant for every rights share subscribed.
Based on the indicative issue price of RM1.10 per rights share, the company expects to raise RM66.12mil, of which RM64.92mil would be used as working capital.
The gross proceeds to be raised from the exercise of the warrants would be RM106.39mil based on the indicative exercise price of RM1.77 per warrant. The gross proceeds to be raised from the exercise of warrants will be utilised as additional working capital.

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