KUALA LUMPUR: PLS Plantations Bhd has proposed a placement of up to 56.23 million new shares at 95 sen.

 The placement, which represents a 9.52 per cent discount over its share price of RM1.05 on Jan 25, attracted well-known names such as Tan Sri Norza Zakaria and Tan Sri Shahril Ridza Ridzuan.

 PLS said on Wednesday that the placement shares were to meet its public shareholding spread, and to partially fund its future plantation business expansion in Pahang.

 Based on the minimum scenario of its placement (39.96 million shares representing 10 per cent of its existing share base), its public shareholding spread will rise to 20.24 per cent from 12.26 per cent as at end-2022.

 PLS said it had concurrently entered into separate agreements with five parties including Norza, who is Citaglobal Bhd executive chairman and president, and Shahril Ridza, who is  chairman of Axiata Group Bhd and former Khazanah Nasional Bhd managing director.

 Norza and Shahril Ridza - together with Mirus Holdings Sdn Bhd, Datuk Eric Tan Chwee Kuang and Thien Chiet Chai - will subscribe to a total of 25 million shares in the company for RM23.75 million.

 PLS will also place up to 31.24 million representing 5.55 per cent of the total number of issued shares under the maximum scenario to third party investor(s) to be identified later.