Spritzer suspended on private placement plan
PETALING JAYA: Bottled water producer Spritzer Bhd’s shares have been temporarily suspended from trading to facilitate the company’s announcement on its private placement.
In a filing with Bursa Malaysia, the company announced that its shares would be suspended from 2.30pm yesterday and would resume trading on Monday.
The suspension came just before Spritzer’s announcement to place out 15% or nearly 27.39 million units of its issued shares to Tasik Puncak Holdings Ltd.
Via the private placement, Spritzer will be raising a total fund worth about RM63.81mil at an issue price of RM2.33 apiece.
The bulk of the proceeds raised from the exercise or some RM45mil will be used for the construction of an automated warehouse to expand Spritzer’s warehouse facilities in Taiping.
The single-storey automated warehouse is expected to have a built-up area of about 105,820 sq ft and will be located adjacent to the group’s current facilities.
The funds allocated for the warehouse construction are expected to be utilised within 36 months upon completion of the exercise.
The issue price of RM2.33 represents a premium of about 8.37% to the five-day, volume-weighted average market price of Spritzer’s shares up to and including Sept 20.
Up to its trading suspension yesterday, the company’s share price had risen by 14 sen or 6.4% to RM2.33.
“The proposed private placement involves an issuance of 27,387,225 shares, which will increase the issued shares of Spritzer to 209,968,727 share units.
“Tasik Puncak currently does not hold any shares in Spritzer and will emerge as a 13.04% substantial shareholder upon completion of the private placement,” said Spritzer in its filing with the stock exchange.
Tasik Puncak is incorporated in the Cayman Islands and its sole director is
Jason Eng.
Tasik Puncak will be holding the shares on behalf of Tasik Puncak LP, which was established as a special-purpose vehicle for Dymon Asia Private Equity (S.E. Asia) Ltd to subscribe to the placement shares.