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K. Seng Seng Corporation Berhad Announces Private Placement of Up to 10% of Its Total Shares

Strategic Insights

— 1 min read

Kuala Lumpur-based K. Seng Seng Corporation Berhad has made an announcement regarding a private placement of up to 10% of its total shares, pursuant to Sections 75 and 76 of the Companies Act 2016. The company has fixed the issue price for the private placement at RM0.75 per placement share, representing a discount of 6.04% to the 5-day volume-weighted average price (VWAP) of its shares up to May 15, 2025.

Key Takeaways:

  • The company, K. Seng Seng Corporation Berhad, has announced a private placement of up to 10% of its total shares.
  • The issue price for the private placement has been fixed at RM0.75 per placement share.
  • The issue price represents a discount of 6.04% to the 5-day VWAP of the company's shares up to May 15, 2025.
  • The private placement is being made pursuant to Sections 75 and 76 of the Companies Act 2016.
  • The board of the company has resolved to fix the issue price for the private placement at RM0.75 per placement share.
  • The company had previously announced its intention to undertake the private placement on April 30, 2025, May 5, 2025, and May 9, 2025.
  • The private placement is subject to the terms and conditions set out in the company's previous announcements, including the definition of certain terms.

Statistics:

  • Up to 10% of the company's total shares are being made available for the private placement.
  • The issue price for the private placement is RM0.75 per placement share.
  • The issue price represents a discount of 6.04% to the 5-day VWAP of the company's shares up to May 15, 2025.
  • The VWAP of the company's shares up to May 15, 2025, is RM0.7982 per share.

Sources:

  • K. Seng Seng Corporation Berhad, "NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : FUND RAISING", Bursa Malaysia Stock Exchange, [date unspecified].

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