Vivocom proposes private placement, 3-for-1 bonus warrant issue

Publish date: Wed, 03 Mar 2021, 07:40 PM
KUALA LUMPUR: Vivocom International Holdings Bhd has proposed to undertake a private placement to raise up to RM99.37 million as well as a bonus issue of up to 371.77 million free warrants.
 
It planned to place up to 10 per cent of its issued shares to third party investor(s) to be identified later, the telecommunication engineering services company said in a filing with Bursa Malaysia today.
 
Based on an indicative issue price of 98 sen per share, Vivocom said it would raise between RM88.83 million and RM99.37 million in gross proceeds, which would mainly be used for working capital.
 
Meanwhile, the proposed bonus issue will be on the basis of one Warrant F for every three existing shares. 
 
Vivocom said the rationale for the proposed bonus issue of warrants was to reward shareholders and strengthen the capital base of the company.
 
"The Warrant F, held on an entitlement date to be announced later, will have a tenure of eight years with a fixed exercise price of RM0.95," it said.
 
Assuming all the warrants are exercised, the company would raise gross proceeds of up to RM353.18 million.
 
 - Bernama

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apolloang

1 for 3 or 3 for 1? write also wrong

2021-03-05 23:41

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