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NewsKYM to raise RM7.65m from private placement of 5m new shares
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KYM to raise RM7.65m from private placement of 5m new shares
by hlk Mon 12 Dec 2011, 17:54
KUALA LUMPUR (Dec 12): KYM HOLDINGS BHD [] expects to raise RM7.65 million from the proposed placement of five million new shares of 50 sen each.
It said on Monday the new shares, representing 4.6% of its paid-up,
would be placed out at RM1.53 per share. Its share price closed one sen
lower at RM1.55 with 35,000 shares done.
The proceeds would be used as working capital for the group including
initial investment of about RM5 million for a reclamation of 3,400
acres at Bagan Datoh, Perak, building of the infrastructure
requirements, including jetties.
KYM will have a 37.5% stake in PEIH Holdings Sdn Bhd which will build
the infrastructure for the Perak Eco Industrial Hub (PEIH).
“The proceeds from the proposed private placement are adequate for
the group’s present working capital requirements. Due to the size of the
PEIH project, it is envisaged that further investment and funding will
be required in the future.
“However, the quantum of the additional investment and funding
required for the PEIH project can only be reasonably ascertained until
the detailed layout plan and CONSTRUCTION [] designs which are expected to be finalised in the next six months,” it said.
Meanwhile, according to its financial statements for the second quarter ended July 31, its net asset per share was 93 sen.
It said on Monday the new shares, representing 4.6% of its paid-up,
would be placed out at RM1.53 per share. Its share price closed one sen
lower at RM1.55 with 35,000 shares done.
The proceeds would be used as working capital for the group including
initial investment of about RM5 million for a reclamation of 3,400
acres at Bagan Datoh, Perak, building of the infrastructure
requirements, including jetties.
KYM will have a 37.5% stake in PEIH Holdings Sdn Bhd which will build
the infrastructure for the Perak Eco Industrial Hub (PEIH).
“The proceeds from the proposed private placement are adequate for
the group’s present working capital requirements. Due to the size of the
PEIH project, it is envisaged that further investment and funding will
be required in the future.
“However, the quantum of the additional investment and funding
required for the PEIH project can only be reasonably ascertained until
the detailed layout plan and CONSTRUCTION [] designs which are expected to be finalised in the next six months,” it said.
Meanwhile, according to its financial statements for the second quarter ended July 31, its net asset per share was 93 sen.
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