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Tropicana Corp proposes private placement to fund land acquisitions
by Cals Tue 23 Jul 2013, 20:20
Tropicana Corp proposes private placement to fund land acquisitions
Business & Markets 2013
Written by Kamarul Anwar of theedgemalaysia.com
Tuesday, 23 July 2013 19:01
KUALA LUMPUR (July 23): Tropicana Corp Bhd is looking to raise funds for land acquisitions by proposing a private placement exercise.
In a filing with Bursa Malaysia, the property developer formerly known as Dijaya Corp Bhd said it plans to raise between RM198.61 million and RM239.02 million. The fund from the private placement will be used for land bank acquisitions, working capital and estimated expenses for the private placement.
Tropicana added the maximum number of placement shares will be 129.2 million new shares, which represents 10% of its enlarged share base.
The private placement, which is expected to be completed by the second half of this year, will be issued at a price determined later.
This is the second private placement exercise conducted by Tropicana. The first was completed on June 5 and was issued at RM1.78 per share.
Business & Markets 2013
Written by Kamarul Anwar of theedgemalaysia.com
Tuesday, 23 July 2013 19:01
KUALA LUMPUR (July 23): Tropicana Corp Bhd is looking to raise funds for land acquisitions by proposing a private placement exercise.
In a filing with Bursa Malaysia, the property developer formerly known as Dijaya Corp Bhd said it plans to raise between RM198.61 million and RM239.02 million. The fund from the private placement will be used for land bank acquisitions, working capital and estimated expenses for the private placement.
Tropicana added the maximum number of placement shares will be 129.2 million new shares, which represents 10% of its enlarged share base.
The private placement, which is expected to be completed by the second half of this year, will be issued at a price determined later.
This is the second private placement exercise conducted by Tropicana. The first was completed on June 5 and was issued at RM1.78 per share.
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