Petra Energy oversubscribed

PETALING JAYA: Petra Energy Bhd’s rights issuance which had closed at 5 pm on March 28 received total valid acceptances of 104.73 million rights shares which represented a subscription rate of 97.65%.

“Together with the total valid excess applications received of 28.03 million rights shares, this represents an over-subscription (rate) of 25.51 million rights shares or 23.78% over the total amount of 107.25 million rights shares available for subscription,” the company told Bursa Malaysia.