KUALA LUMPUR (Aug 18): After completing two rounds of private placement to fund its face mask business venture, Komarkcorp Bhd now plans to raise up to RM81.78 million — 128% of its market value of RM64 million — through a rights issue.
The group, which is involved in printing labels and packaging solutions, ventured into making face masks and personal protection equipment (PPE) in June last year.
It successfully raised RM59.21 million through a private placement exercise in December to be used to establish up to 30 production lines for the face mask manufacturing business.
The group completed another private placement on May 31, raising proceeds of RM12.93 million, which were intended to be utilised for the expansion of production capacity for the face mask business.
Currently, Komarkcorp is operating 23 production lines of three-ply face masks and one production line for respirator face masks.
It intends to expand its production capacity by setting up another 79 production lines for three-ply face masks and 25 production lines for respirator face masks. As a result, it would have 128 lines production lines with annual production capacity of 1.22 billion units of three-ply face masks and 312 million units of respirator face masks
In a bourse filing today, Komarkcorp said it expects to raise up to RM81.78 million via the proposed rights issue, based on an illustrative issue price of 10 sen per right share under the maximum case scenario.
This exercise entails the issuance of up to 817.82 million rights shares and up to 272.61 million free detachable warrants, on the basis of three rights shares and one warrant for every three shares held.
Komarkcorp said RM46 million of the proceeds will go towards the expansion of its manufacturing business, including RM12 million for the face mask business, RM12 million for replacement and upgrade machineries for the labelling business, RM7 million for refurbishment and renovation of factories, and RM5 million for installation and commissioning of the face mask production lines.
The group said it also plans to set aside another RM5 million for new product development to keep pace with the demand and development in face masks, and RM15 million to finance the acquisition or investment in any suitable complementary business, including the face mask and label industry.
The group expects the rights issue with warrants to be completed by the fourth quarter this year.
Komarkcorp’s share price closed 0.5 sen or 4.35% lower at 11 sen today, giving it a market capitalisation of RM64 million.
komarkcorp plans to raise up to RM81.78m — 128% of its market value of RM64m — through a rights issue. This exercise entails the issuance of up to 817.82m rights shares and up to 272.61m free detachable warrants, on the basis of three rights shares and one warrant for every three shares held. (The Edge) as expected
Already hard times around, this komark bust*** still thinking of killing ppl so let pray hard the cov19 especially delta variant collect their whole family one by one. We pray and the cursed are no different from their acts.
Yah, one more thing if anyone out there who feels like organised protest with big banner for reasoning under this pendamic in front the building so that can go viral. Details talk later on or not first.
lol invest share until curse people so weak, when it drop to 0.12 I edy predict will down to 0.9 lol, see selangor covid chart so high (most of cluster is Foreign workers) and u don't tell me Komark production workers majority Malaysian hahah
i have give warning about this company so much earlier but hey no...still want to buy even thought that time is 12 cent past 1 or 2 month.
I was invited to provide CON-sultant on the company operation lah. Dah awal awal cakap.....all thereotical calculation based on so call China equipment all are bullshit lo...
Everyone of them not running at optimal capacity lah.....at that time 50 % efficiency.. if run at 100%......wastage gila bengang...and stoppage is very frequent.
Company making losses year in year out. after recent PP still not enough....now want to force share holders to do RI pulak.
if want ply goreng counter like this and dataprp u need have very expert skill in seeing TA elements, u need predict when operator in and when operator out
don't be so straight la, think from operator perspective, the break out is created to trap people, mean outsider kena trap lo. u need to twist the mindset if the counter is operator vs small investor, if u invest Taiwan share before u will notice this pattern common
Post a Comment
People who like this
New Topic
You should check in on some of those fields below.
Title
Category
Comment
Confirmation
Click Confirm to delete this Forum Thread and all the associated comments.
New IPO: The onshore and offshore support services provider for the O&G industry, Steel Hawk Bhd aims to list on the Ace Market!
MQ Trader 2938 views | 2 d ago
0:17
New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
weisheng1998
624 posts
Posted by weisheng1998 > 2021-08-18 12:47 | Report Abuse
this counter comment interesting haha, can study which type of comment appear the price will up or down