BINA PURI EYES UP TO RM13M FROM PRI­VATE PLACE­MENT

The Sun (Malaysia) - - SUNBIZ -

PE­TAL­ING JAYA: Bina Puri Hold­ings Bhd pro­posed a pri­vate place­ment to raise up to RM13.06 mil­lion for work­ing cap­i­tal and re­pay­ment of bank bor­row­ings. The con­struc­tion and prop­erty de­vel­oper said the pri­vate place­ment en­tails an is­suance of up to 26.13 mil­lion place­ment shares, rep­re­sent­ing not more than 10% of its en­larged is­sued and paid-up share cap­i­tal. Based on an as­sumed is­sue price of 50 sen per place­ment share, it is ex­pected to raise up to RM13.06 mil­lion. Bina Puri said the pri­vate place­ment is found to be an ap­pro­pri­ate av­enue of fundrais­ing with­out in­cur­ring in­ter­est cost and al­lows for money to be raised on an “as needed” ba­sis.

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