PETALING JAYA: Cypark Resources Bhd
, which was previously affected by cash flow and debt concerns, has received a helping hand from textile wholesaler Jakel Group which invested RM67.13mil into the renewable energy (RE) player.
Via its investment arm Jakel Capital Sdn Bhd, Jakel acquired a 23.08% stake in Cypark at 38 sen per placement share, making it the single largest shareholder. In comparison, Cypark shares closed at 54 sen yesterday, giving it a market capitalisation of RM319.11mil.
Cypark’s private placement exercise, which was completed yesterday, encompasses a total of 176.65 million new shares. The shares were fully taken up by Jakel Capital.
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