Thong Guan Industries to issue RM52.6m loan stocks
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Thong Guan Industries to issue RM52.6m loan stocks
KUALA LUMPUR: Thong Guan Industries Bhd is undertaking a renounceable rights issue of up to RM52.60mil and plans to issue up to 26.30 million free new warrants.
It said on Thursday the rights issue would be up to 52.60mil nominal value of five-year 5% irredeemable convertible unsecured loan stock (ICULS) at 100% of its nominal value of RM1 each.
The ICULS would be on the basis of one RM1 nominal value of ICULS for every two shares together with up to 26.30 million free new warrants on the basis of one warrant for every two ICULS subscribed.
Thong Guan said in addition, up to 52.60 million new shares would be issued upon the full conversion of the ICULS and up to a total of 26.30 million new shares would be issued upon the full exercise of the warrants.
It added the conversion price of RM1 per ICULS was a discount of about RM1.18 or 54.13% of the share price of RM2.18.
The board fixed the exercise price of the warrants at RM1.50 per warrant, which was a discount of about 68 sen or 31.2% to the share price of RM2.18.
It said on Thursday the rights issue would be up to 52.60mil nominal value of five-year 5% irredeemable convertible unsecured loan stock (ICULS) at 100% of its nominal value of RM1 each.
The ICULS would be on the basis of one RM1 nominal value of ICULS for every two shares together with up to 26.30 million free new warrants on the basis of one warrant for every two ICULS subscribed.
Thong Guan said in addition, up to 52.60 million new shares would be issued upon the full conversion of the ICULS and up to a total of 26.30 million new shares would be issued upon the full exercise of the warrants.
It added the conversion price of RM1 per ICULS was a discount of about RM1.18 or 54.13% of the share price of RM2.18.
The board fixed the exercise price of the warrants at RM1.50 per warrant, which was a discount of about 68 sen or 31.2% to the share price of RM2.18.
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