Bursa Alert
Global Market
NewsIris to use bulk of RM25.5m from placement for working capital
Page 1 of 1
Iris to use bulk of RM25.5m from placement for working capital
by hlk Tue 28 Jun 2011, 18:41
KUALA LUMPUR: IRIS CORPORATION BHD [] expects to raise gross proceeds of RM25.52 million from a proposed private placement exercise of up to 10% of its paid-up share capital.
It said on Tuesday, June 28 it plans to use RM25.37 million of the proceeds as working capital and the remaining RM150,000 as estimated expenses relating to the proposed private placement.
Iris said the RM25.52 million in proceeds would be based on an indicative issue price of 15 sen per placement share.
The company’s issued and paid-up share capital is RM216.41 million comprising of 1.442 billion shares of 15 sen each.
It said on Tuesday, June 28 it plans to use RM25.37 million of the proceeds as working capital and the remaining RM150,000 as estimated expenses relating to the proposed private placement.
Iris said the RM25.52 million in proceeds would be based on an indicative issue price of 15 sen per placement share.
The company’s issued and paid-up share capital is RM216.41 million comprising of 1.442 billion shares of 15 sen each.
hlk- Moderator
- Posts : 19013 Credits : 45112 Reputation : 1120
Join date : 2009-11-14
Location : Malaysia
Similar topics» Solid Automotive proposes private placement to repay debt, working capital
» Brahim’s plans private placement to raise RM25.78m
» Nova MSC eyes share sale for working capital
» Iris Corp fixes share placement price at 15.12c
» DRB-Hicom issues RM500m debt notes for working capital, projects
» Brahim’s plans private placement to raise RM25.78m
» Nova MSC eyes share sale for working capital
» Iris Corp fixes share placement price at 15.12c
» DRB-Hicom issues RM500m debt notes for working capital, projects
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum|
|
|