KUALA LUMPUR: SYF Resources Bhd
has signed an underwriting agreement with Malacca Securities Sdn Bhd for the underwriting of the open portion of its rights issue to raise RM62.58mil.
SYF, which has disposed of its furniture manufacturing business, will enter into the financial services industry via the acquisition of stockbroker M&A Securities in a reverse take-over (RTO) exercise.
On Jan 19, 2023, SYF received shareholders’ approval for the RTO, which comprises multiple proposals, including a rights issue of 284.44 million new shares at 22 sen apiece.
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