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Iris Corp fixes share placement price at 15.12c
by hlk Tue 02 Aug 2011, 08:45
KUALA LUMPUR: Iris Corp Bhd has fixed the issue price of the 170.17 million new shares to be issued under its placement exercise at 15.12 sen.
It said on Monday, Aug 1 the issue price of 15.12 sen was a discount of 9.95% from the five-day weighted average market price of Iris shares from July 25-29 of about 16.79 sen per Iris share.
Assuming that 170.17 million placement shares were placed out at 15 sen per placement share, the proposed exercise would raise RM25.52 million which would be used for the group’s business.
It said on Monday, Aug 1 the issue price of 15.12 sen was a discount of 9.95% from the five-day weighted average market price of Iris shares from July 25-29 of about 16.79 sen per Iris share.
Assuming that 170.17 million placement shares were placed out at 15 sen per placement share, the proposed exercise would raise RM25.52 million which would be used for the group’s business.
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