G Capital announces rights issue

TheStar Thu, Apr 06, 2023 12:00am - 11 months View Original


PETALING JAYA: G Capital Bhd (GCap) has proposed to undertake a renounceable rights issue to part fund its 20MW mini-hydropower plant projects in Perak.

In a filing with Bursa Malaysia yesterday, GCap corporate exercise entails the issuance of 1.4 billion five-year redeemable convertible unsecured loan stocks (RCULS), with a nominal value of up to RM112.9mil at 100% subscription and at its nominal value of eight sen each

The RCULS will carry a coupon rate of 8% per annum payable quarterly in arrears, and would be issued on the basis of four RCULS for every one existing ordinary share in G Cap held on an entitlement date to be determined later.

The proposed exercise will enable GCap to raise at least RM17.21mil and a total of RM112.9mil under the maximum subscription level.

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