ppl sapu all 0.14 at last 10 minutes

y cant move??

KUALA LUMPUR (Oct 13): Eonmetall Group Bhd plans to raise up to RM11.3 million via a private placement of up to 10% of its issued share capital, which will be used to expand its business operations and for working capital.

In a filing with Bursa Malaysia today, Eonmetall said the proceeds are intended to be utilised for the expansion of its existing business of manufacturing and sale of metalwork machinery and steel products, as well as to build a solvent extraction plant for palm fibre oil and palm kernel oil.

The proceeds will be used within 12 months from the date of completion for the proposed private placement.

Eonmetall said up to RM7.04 million will be allocated for the expansion of the company’s existing business, but in the event that such business expansion plans do not materialise within the expected time frame, the group will use the proceeds for working capital.

The proposed corporate exercise will also result in improvement in Eonmetall’s gearing ratio and strengthen its financial position.

Based on an indicative issue price of 66 sen per placement share, the group expects gross proceeds of between RM11.13 million under the minimum scenario (assuming that all 2.52 million treasury shares are retained) and RM11.3 million under the maximum scenario (assuming that all 2.52 million treasury shares have been resold in the open market). The issue price represents a discount of 9.09% to the five-day weighted average market price of Eonmetall shares.

The proposed private placement is expected to be completed by the first quarter of next year.

Eonmetall shares closed up one sen or 1.41% at 72 sen today for a market capitalisation of RM121.5 million.

@bing,good news or bad news?

holland d

wat happen?? roller coaster really rosak ahhhh??

monday continue up up up

hopefully

me too

geng ahhhh...gogogo

Sui ahhhh

QR is out

BOOMM

good...continue it

how about target price?