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Perisai Petroleum completes private placement, raises RM165.9 mln in proceeds

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Perisai Petroleum completes private placement, raises RM165.9 mln in proceeds Empty Perisai Petroleum completes private placement, raises RM165.9 mln in proceeds

Post by Cals Fri 11 Apr 2014, 01:31

Perisai Petroleum completes private placement, raises RM165.9 mln in proceeds
Business & Markets 2014
Written by Bernama   
Thursday, 10 April 2014 18:01

KUALA LUMPUR (April 10): Perisai Petroleum Teknologi Bhd has successfully completed a private placement, which raised proceeds of RM165.9 million.

Managing Director, Zainol Izzet Mohamed Ishak, said the results of the exercise showed investors' confidence and support towards the company.

"The funds raised in the exercise, will be used to repay borrowings, capital investments, as well as working capital for the company," he said, in a statement today.

Kenanga Investment Bank is the principal adviser for the exercise, and is also the joint placement adviser, together with OCBC Advisers (Malaysia) Sdn Bhd and the joint placement agent, along Maybank Investment Bank Bhd.

The placement price, at RM1.53 per share, was oversubscribed by more than double, mostly by institutional funds.
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