Malaysia's Asia Bioenergy Plans To Raise Up To MYR81.43 Mln Via Rights Issue
With Warrants
Asia Bioenergy Technologies, a Malaysian investment company that focuses on
renewable energy business, said Friday it plans to raise up to 81.43 million
ringgit ($18.96 million) via a rights issue with warrants.
The company plans to issue up to 1.16 billion irredeemable convertible
preference shares along with 116.32 million free detachable warrants, based
on 10 shares and one warrant for every five shares held by entitled
shareholders, it said in an exchange filing.
The bulk of the funds raised will be used to invest in companies listed or
to be listed on Malaysia's Leading Entrepreneur Accelerator Platform Market
of Bursa Securities, it said. The remainder will be used for working capital
and two investments, it added.
The exercise is expected to be completed by the first quarter of 2018
pending regulatory and shareholder approval.
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Link to Original Article: https://asia.nikkei.com/print/article/285909
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John Diecker
APT Consulting Group Co., Ltd.
www.aptthailand.com
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