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NewsXidelang's rights issue of 241.99m warrants gets 98.02% acceptances
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Xidelang's rights issue of 241.99m warrants gets 98.02% acceptances
by hlk Mon 23 Apr 2012, 20:25
KUALA LUMPUR: Xidelang Holdings Ltd's renounceable rights issue of 241.99 million warrants at an issue price of 5.0 sen per warrants recorded a subscription rate of 98.02%.
It said on Monday, that at the close of the rights issue of the warrants on April 16, the total valid acceptances received were 237.21 million units.
The warrants were issued on the basis of one warrant for every two shares held on March 29.
"Together with the total valid excess applications received of 120.52 million warrants, this represents an over-subscription of 47.82% over the total amount of 241.99 million available for subscription.
"The total proceeds received from the valid acceptances and excess applications amounted to approximately RM17.88mil of which over-subscription monies totaling RM5.78mil will be refunded," it said.
Xidelang said the excess 4.78 million warrants will be allotted in the manner as stated in the abridged prospectus.
It said on Monday, that at the close of the rights issue of the warrants on April 16, the total valid acceptances received were 237.21 million units.
The warrants were issued on the basis of one warrant for every two shares held on March 29.
"Together with the total valid excess applications received of 120.52 million warrants, this represents an over-subscription of 47.82% over the total amount of 241.99 million available for subscription.
"The total proceeds received from the valid acceptances and excess applications amounted to approximately RM17.88mil of which over-subscription monies totaling RM5.78mil will be refunded," it said.
Xidelang said the excess 4.78 million warrants will be allotted in the manner as stated in the abridged prospectus.
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