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Wednesday, December 4, 2013

BIMB’s rights issue with warrants oversubscribed 6.67%

Source: http://www.thestar.com.my/Business/Business-News/2013/12/03/BIMB-rights-issue-with-warrants-oversubscribed.aspx

KUALA LUMPUR: BIMB Holdings Bhd’s rights issue of 426.71 million shares with 426.71 million warrants at an issue price of RM4.25 per rights share was oversubscribed by 6.67%.

It said on Tuesday the total valid acceptances and excess applications received for the rights issue with warrants was 455.17 million rights shares.

This was a subscription rate of about 106.67% over the total of 426.71 million rights shares. The over subscription was 6.67% or 28.45 million shares.

BIMB said the rights shares and warrants were expected to be listed and quoted on the Main Market of Bursa Malaysia Securities Bhd on Dec 11.

The corporate exercise involved the issuance of the rights shares and warrants on the basis of two rights shares with two warrants for every five existing shares held as at 5pm on Nov 12.

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