FSBM Holdings Bhd’s subscription applications for the rights issue in connection with the regularisation plan have reached a subscription rate of 449.57 per cent.
In a statement today, FSBM said that as at the close of acceptance, the total acceptances and excess applications for the rights issue with warrants stood at 1,063,945,972 rights shares, representing 449.57 per cent subscription of the total number of rights shares available for subscription under the rights issue with warrants.
The proposed renounceable rights issue related to 236,659,300 rights shares on the basis of one rights share for every existing FSBM share held at an issue price of RM0.03 per rights share, which includes up to 118,329,650 free warrants on the basis of one warrant for every two rights shares subscribed.
"The proceeds from the proposed renounceable rights issue will be utilised mainly for the expansion of the group’s existing information technology services business and its working capital purposes.
"The proposed regularisation plan is in the final stages and the company believes it will help restore performance and exit our PN17 status,” said the company.
FSBM is an investment holding company which engages in the distribution of computers and related products, and education-related products. - Bernama
PureBULL >>>, [2023-10-18 9:31 PM] FSBM a PENNY stock with 3 new substantial s/holders of 25% of paid up, after 1 : 1 RI. tis a just attempt at a new HH:
PureBULL >>>, [2023-10-20 3:13 AM] FSBM Pang Kiew Kun, a new substantial s/holder. His happening Talent:
In 2016, he set up a company named Aresys Industries Sdn. Bhd., an Industrial Automation and Digital System Integration Provider specialized in providing Industry 4.0 transformation, IoT system integration and smart factory solutions. Mr Pang currently is the Managing Director of Aresys Industries Sdn. Bhd. He has successfully supported various Malaysian SME factories to embark on factory digitalization journey via OEE and MES. Other major accomplishments are the complete digitalization rollout for a plantwide MES+OEE+ERP+CRM+E-commerce implementation for 1 factory under Industry4WRD Intervention Fund and also awarded to implement Vision Inspection System for 5 Rubber Glove Manufacturers in Malaysia and Thailand. In 2020, his company had been appointed by SIRIM Bhd to implement IoT & Digitalization for 3 factories, at the same time they also secured Vision Inspection system contract from 2 large Glove manufacturers and Factory Automation Project from a world-leading disk drive manufacturer and data storage company.
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 2904 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....
nogutsnoglory
2 posts
Posted by nogutsnoglory > 2021-10-15 13:22 | Report Abuse
sink soon, thanks FSBM-WA for the treats.