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NewsAsia Brands prices placement shares at RM3.30, to raise RM24m
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Asia Brands prices placement shares at RM3.30, to raise RM24m
by Cals Wed 12 Jun 2013, 14:40
Asia Brands prices placement shares at RM3.30, to raise RM24m
Business & Markets 2013
Written by Chong Jin Hun of theedgemalaysia.com
Wednesday, 12 June 2013 13:32
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KUALA LUMPUR (June 12): Asia Brands Bhd has fixed the issue price for the clothing firm's planned private placement of upto 7.19 million new shares at RM3.30 each, the clothing firm told the exchange.
The exercise will raise RM23.73 million which will be used to repay Asia Brands' bank loans, according to the company which was formerly known as Hing Yiap Group Bhd.
"The issue price for the placement shares of RM3.30 represents a discount of approximately 2.08% to the five-day volume weighted average market price of Asia Brands shares, upto and including June 11, 2013 of RM3.37 per Asia Brands share," the firm said.
The placement shares which will be sold to third-party investors, account for 10% of the company's issued share base.
Business & Markets 2013
Written by Chong Jin Hun of theedgemalaysia.com
Wednesday, 12 June 2013 13:32
A + / A - / Reset
KUALA LUMPUR (June 12): Asia Brands Bhd has fixed the issue price for the clothing firm's planned private placement of upto 7.19 million new shares at RM3.30 each, the clothing firm told the exchange.
The exercise will raise RM23.73 million which will be used to repay Asia Brands' bank loans, according to the company which was formerly known as Hing Yiap Group Bhd.
"The issue price for the placement shares of RM3.30 represents a discount of approximately 2.08% to the five-day volume weighted average market price of Asia Brands shares, upto and including June 11, 2013 of RM3.37 per Asia Brands share," the firm said.
The placement shares which will be sold to third-party investors, account for 10% of the company's issued share base.
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