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Biosis fixes placement share at huge premium
by hlk Fri 01 Jul 2011, 21:11
KUALA LUMPUR: BIOSIS GROUP BHD [] has fixed the issue price of the second tranche of its placement shares at 50 sen per share.
The company said on Friday, July 1 the issue price was about 16.4 sen or 48.8% above the five-day weighted average market price from June 24 to 30 of about 33.6 sen per share.
Earlier announcements said that eight million placement shares represented 8% of the issued and paid-up would be placed.
Of the RM4 million raised from the exercise, it said RM2.9 million would be used for working capital, RM1 million to repay borrowings and the remaining RM100,000 as estimated expenses for the corporate exercise.
The company said on Friday, July 1 the issue price was about 16.4 sen or 48.8% above the five-day weighted average market price from June 24 to 30 of about 33.6 sen per share.
Earlier announcements said that eight million placement shares represented 8% of the issued and paid-up would be placed.
Of the RM4 million raised from the exercise, it said RM2.9 million would be used for working capital, RM1 million to repay borrowings and the remaining RM100,000 as estimated expenses for the corporate exercise.
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