Nicorp will raise RM21.4m from pvt placement

Publish date: Tue, 17 Jul 2012, 07:50 PM
Naim Indah Corporation Bhd will raise gross proceeds of RM21.4 million from its private placement exercise.

In an announcement to Bursa Malaysia today, the company said it planned to implement a private placement of up to 70.203 million new ordinary shares of 20 sen each to an independent third party investor.

The proceeds will be utilised for working capital expenditure (RM12 million), repayment of bank borrowings (RM3 million), capital expenditure (RM5.812 million) and estimated expenses for the exercise (RM600,000).

"The board is of the opinion that the plan is currently the most appropriate means of raising funds," the statement added.

Naim Indah said the plan would also strengthen the capital base, improve the gearing position and increase its liquidity shares in the market. -- Bernama

Labels: PHB

Discussions
Be the first to like this. Showing 8 of 8 comments

Winny

If that private placement of 20sen is offered to RC,we can hope for a rally after that,just like what happened when he bgt over the harvest private placement at 403,hopefully same can happen to nicorp if he buys over that p/placement @ 20sen.

2012-07-17 21:35

KC Loh

The question is whether its RC making the private placement or another. if its a big gun coming in, then you can assume some asset injection may come in, hence enhancing their share price. if only for his lackeys, then well, you really got to read in between the line.......... dilution of shares may be viewed as a double edged sword! best wishes!

2012-07-17 21:45

talk2pkc

No surprise RC is playing the leading role again , so-call "Good-Bad-Urgly" by Raymond Clint ha ha

2012-07-17 22:03

KC Loh

you may be right talk2pkc. after the placement, it looks something like this for RC

https://www.dropbox.com/s/2vrn59xfyjtez7l/announcements.bursamalaysia.com-EDMS-edmsweb.nsf-all-9B852EDFE372E99048257A3E00394BA4-%24File-NICORP-%20PP%20ann%20final.pdf.png

source: http://announcements.bursamalaysia.com/EDMS/edmsweb.nsf/all/9B852EDFE372E99048257A3E00394BA4/$File/NICORP-%20PP%20ann%20final.pdf

2012-07-17 23:07

Stephen Lee

There are lots of critism of Raymond Chan purchasing of Nicorp and by comparing to his presuccesor of Harvest. A number of investors shummed RC and today's placement of Nicop proof that RC is slowing transforming Nicorp into a big Corporate Entity.

2012-07-18 00:53

caltin

Hope he will accumulate further on it.

2012-07-18 09:33

nubhan .

he got private placement at 20 cent. He will sell it at 30 cent++ get his money back. hahaha

2012-07-18 09:37

eizmirr

I go with caltin....hope for the best

2012-07-18 16:38

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