Malaysia Steel Works (KL) Bhd Announces Private Placement of Up to 10% of Total Number of Issued Shares

Strategic Insights -

Malaysia Steel Works (KL) Bhd, also known as Masteel, has made a significant announcement regarding a private placement of up to 10% of its total number of issued shares. This move is part of the company's efforts to raise funds and strengthen its financial position. The private placement is expected to be completed through the issue of Placement Shares at a fixed price of RM0.256 per share, representing a discount of approximately 2.14% to the 5-day volume-weighted average price (VWAP) of Masteel shares.

Key Takeaways:

  • The private placement aims to raise funds by issuing up to 10% of Masteel's total number of issued shares.
  • The issue price for the private placement is fixed at RM0.256 per Placement Share, representing a discount of RM0.0056 or approximately 2.14% to the 5-day VWAP of Masteel shares.
  • The VWAP used for the calculation is that of Masteel shares up to and including 31 July 2024, being the market day immediately preceding the price-fixing date.
  • UOBKH has announced the price-fixing date of the private placement as 31 July 2024.
  • The private placement announcement is dated 1 August 2025.

Statistics:

  • Up to 10% of Masteel's total number of issued shares will be issued through the private placement.
  • The issue price of RM0.256 per Placement Share represents a discount of RM0.0056 or approximately 2.14% to the 5-day VWAP of Masteel shares.
  • The VWAP used for the calculation is RM0.2616 per Masteel Share.

Sources:

[Bursa Malaysia Stock Exchange, "NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : FUND RAISING" announcement dated 1 August 2025]

[UOBKH announcement regarding the price-fixing date of the private placement]

[Malaysia Steel Works (KL) Bhd Announcement dated 1 August 2025]