Bursa Community
Would you like to react to this message? Create an account in a few clicks or log in to continue.
Bursa Community

Bursa Malaysia Stock Forum - Enriching You!


London Biscuits sets issue price for private placement at RM1 per share

Bursa Community :: Community News

Go down

London Biscuits sets issue price for private placement at RM1 per share Empty London Biscuits sets issue price for private placement at RM1 per share

Post by Cals Fri 03 Oct 2014, 02:15

London Biscuits sets issue price for private placement at RM1 per share
Business & Markets 2014
Written by Liew Jia Teng of theedgemalaysia.com   
Thursday, 02 October 2014 18:21

KUALA LUMPUR (Oct2): Homegrown cakes and snack food producer London Biscuits Bhd has fixed the issue price for the third and final tranche of its proposed private placement, comprising 2.35 million shares, at RM1 apiece.
In a filing with Bursa Malaysia today, London Biscuits said the issue price represents a premium of some 21.8% from its five-day weighted average market price of about 82.1 sen.
To recap, London Biscuits had on July 31, 2014 announced its private placement plan to raise some RM16.35 million, of which RM10 million will be used to repay bank borrowings within six months, RM6.15 million will be for a year’s working capital, with the remaining RM200,000 for estimated expenses.
The private placement, which would be implemented in tranches within six months, would involve the issuance of up to 16.35 million shares, which represents 9.9% stake in the group, to third party investors.
London Biscuits’ counter fell 1 sen to close at 81 sen today, bringing it a market capitalisation of RM143.8 million.
Cals
Cals
Administrator
Administrator

Posts : 25277 Credits : 57721 Reputation : 1766
Male Join date : 2011-09-08
Location : global
Comments : “My plan of trading was sound enough and won oftener that it lost. If I had stuck to it I’️d have been right perhaps as often as seven out of ten times.”
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis

Back to top Go down

Back to top

- Similar topics

Bursa Community :: Community News

 
Permissions in this forum:
You cannot reply to topics in this forum