EcoWorld Malaysia’s balance sheet continued to strengthen – comparing the following key financial metrics as at 31 October 2021 vs 31 October 2020: o Cash and Bank balances increased by 72% o Net Borrowings reduced by 27% o Net Gearing reduced to 0.44 times o Net Asset per share grew to close at RM1.62 as at 31 October 2021
KUALA LUMPUR (Jan 17): Eco World Development Group Bhd (EcoWorld) has proposed a bonus issue in the form of one warrant for every five existing shares.
In a bourse filing, the property developer said it plans to issue between 588.87 million and 693.95 million warrants on a date to be announced later. The exercise price of the warrants will also be determined later.
EcoWorld expects to raise gross proceeds of between RM606.5 million and RM714.8 million based on an indicative exercise price of RM1.03 and assuming full exercise of the warrants.
"Such proceeds if raised [as and when the new warrants are exercised], shall be utilised as working capital to fund the day-to-day operations of the group, amongst others, staff related expenses, and overheads and administrative expenses such as accounting related fees, utilities and office related costs," it said.
The exercise is expected to be completed by the first half of 2022, said EcoWorld.
EcoWorld's share price closed up 1.5 sen or 1.72% to 88.5 sen, giving the group a market capitalisation of RM2.61 billion.
@hassim05, ECOWLD management maybe learnt their lesson. Set the warrant price to high last time around. End up nobody will convert to mother share whe expiry, lose the fundraising opportunity. This round they set the "indicative" exercise price to be (in my opinion) more realistic and should be rewarding to existing shareholders.
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Posted by wallstreetrookie > 2021-12-16 15:02 | Report Abuse
Time to accumulate.