KUALA LUMPUR: Capital A Bhd yesterday denied plans for a US$400 million private placement of its shares, while confirming that its aviations business is exploring a fundraising exercise.

"We wish to inform the shareholders that Capital A currently does not have any intention to undertake a private placement of new ordinary shares in Capital A of up to US$400 million. "However, the management is in the midst of exploring a potential fund-raising exercise by its aviation business," Capital A said in a filing with Bursa Malaysia Securities yesterday.

The Practice Note 17 company said the evaluation is still in its preliminary stage and the board of directors has not been presented with a firm proposal to deliberate on.

Capital A advised shareholders not to speculate in the trading of shares of the company and that it will update on any material development of the fundraising exercise.

Capital A's share price closed at 68 sen a share yesterday, giving it a market capitalisation of RM2.9 billion.

https://www.nst.com.my/business/corporate/2024/04/1038346/capital-denies-private-placement-plans-confirms-exploring-fund