Dayang to buy 10pc of Perdana Petroleum

Dayang Enterprise Holdings Bhd has accepted the offer to subscribe to 45.012 million new shares in Perdana Petroleum Bhd (PPB) via private placement.

The shares represented 10 per cent of the issued and paid-up capital in PPB, it said in a filing with Bursa Malaysia Securities.

It said the subscription price would be based on the volume-weighted market price for the five market days immediately preceding the price-fixing date and a discount of not more than five per cent but not less than the par value of PPB shares of 50 sen each.

PPB, with core business activity in offshore marine services, today rose half sen to close at 72 sen on Bursa Malaysia.
Dayang said the proposed subscription was part of its plan to expand and diversify its business.


It said the proposed subscription would provide the opportunity to participate in potentially high-yielding contracts.
Dayang said it would use internally-generated for the deal. -- Bernama

Been hearing speculation about Dayang from friends. But this news seems to be obsolete. Anyway, who knows tmrw got action due to this?