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NewsXiDeLang to raise up to RM111.9mil with corporate exercise
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XiDeLang to raise up to RM111.9mil with corporate exercise
by Cals Tue 01 Oct 2013, 00:55
Published: Monday September 30, 2013 MYT 7:14:00 PM
Updated: Monday September 30, 2013 MYT 7:20:27 PM
XiDeLang to raise up to RM111.9mil with corporate exercise
KUALA LUMPUR: China-based XiDeLang Holdings Ltd plans to raise between RM42.45mil and up to RM111.9mil under a corporate exercise to fund its new design and production centre.
The company, which makes sport shoes and sportswear, has proposed a proposed renounceable rights issue of up to 322.66 million new shares of 10 US cents each at an issue price of 35 sen per rights share.
The corporate exercise includes the proposed issuance of 241.99 million free detachable warrants and an attached bonus issue of up to 241.99 million new shares.
XiDeLang said this would be on four rights shares together with three free warrants and three bonus shares for every existing shares.
The new centre is a two-stage development that caters for the design and manufacture of sports shoes and apparel, located at in an upcoming commercial district of Jinjiang City. The first stage of the new centre has been completed in the first quarter of 2013 with eight buildings spanning 51,700sqm, comprising production, dormitory, administration and warehouse space.
The second stage of the centre will primarily be utilised for the development of the group’s management offices, e-commerce centre, research and development centre, product showroom and senior management dormitories.
Updated: Monday September 30, 2013 MYT 7:20:27 PM
XiDeLang to raise up to RM111.9mil with corporate exercise
KUALA LUMPUR: China-based XiDeLang Holdings Ltd plans to raise between RM42.45mil and up to RM111.9mil under a corporate exercise to fund its new design and production centre.
The company, which makes sport shoes and sportswear, has proposed a proposed renounceable rights issue of up to 322.66 million new shares of 10 US cents each at an issue price of 35 sen per rights share.
The corporate exercise includes the proposed issuance of 241.99 million free detachable warrants and an attached bonus issue of up to 241.99 million new shares.
XiDeLang said this would be on four rights shares together with three free warrants and three bonus shares for every existing shares.
The new centre is a two-stage development that caters for the design and manufacture of sports shoes and apparel, located at in an upcoming commercial district of Jinjiang City. The first stage of the new centre has been completed in the first quarter of 2013 with eight buildings spanning 51,700sqm, comprising production, dormitory, administration and warehouse space.
The second stage of the centre will primarily be utilised for the development of the group’s management offices, e-commerce centre, research and development centre, product showroom and senior management dormitories.
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