OEB to raise working capital via bonus warrant issue

TheStar Tue, Jan 19, 2021 10:10am - 3 years View Original


On Dec 11,2020, the loss-making restaurant chain had proposed a one-to-three share split and a bonus issue of one warrant for every two shares.

PETALING JAYA: Oversea Enterprise Bhd (OEB) can raise gross proceeds of up to RM101.75mil upon full exercise of its warrants, after a bonus issue of one warrant for every two shares, based on an illustrative exercise price of 23 sen per warrant.

On Dec 11,2020, the loss-making restaurant chain had proposed a one-to-three share split and a bonus issue of one warrant for every two shares.

According to the group, after the share split, the theoretical adjusted share price of OEB is 21 sen, based on the lowest daily volume weighted average price (VWAP) of 62.5 sen in the three months up to Dec 10,2020.

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