KFM plans share pri­vate place­ment

New Straits Times - - Business -

KUALA LUMPUR: Prac­tice Note 17 (PN17) com­pany Kuantan Flour Mills Bhd (KFM) plans a pri­vate place­ment of 30 per cent of its to­tal shares and a rights is­sue of up to 221.74 mil­lion shares to raise up to RM48.44 mil­lion for debt re­pay­ment and work­ing cap­i­tal. The cor­po­rate ex­er­cises, part of its plan to reg­u­larise its fi­nan­cial con­di­tion, also in­volves re­struc­tur­ing its debts ow­ing to cred­i­tors, said KFM.

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