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Digistar to place out 10% of new shares (0029)
by hlk Tue 24 Jul 2012, 00:44
KUALA LUMPUR: Digistar Corporation Bhd plans to place out 10% of its paid-up share capital to third party investors at an indicative price of 40 sen per share.
The company said on Monday the 40 sen indicative price was a discount of about 7.0% to the five-day weighted average market price up to and including July 18 at 43 sen per share.
As at July 18, the paid-up share capital was RM23.17mil, comprising of 231.72 million shares of 10 sen each (including 7.37 million treasury shares). It also has 90.04 million outstanding warrants.
"Based on the indicative issue price of 40 sen per placement share, the proposed private placement is expected to raise gross proceeds of up to RM12.87mil," it said.
The company said on Monday the 40 sen indicative price was a discount of about 7.0% to the five-day weighted average market price up to and including July 18 at 43 sen per share.
As at July 18, the paid-up share capital was RM23.17mil, comprising of 231.72 million shares of 10 sen each (including 7.37 million treasury shares). It also has 90.04 million outstanding warrants.
"Based on the indicative issue price of 40 sen per placement share, the proposed private placement is expected to raise gross proceeds of up to RM12.87mil," it said.
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