KNM dips 3.12% on private placement plan

TheEdge Mon, Apr 22, 2019 09:41am - 4 years View Original


KUALA LUMPUR (April 22): Shares in KNM Group Bhd fell 3.12% this morning after it proposed to raise up to RM36.36 million via a private placement to third party investors to be identified later, to finance its ethanol plant in Chachoengsao, Thailand and for operating expenses, which is expected to raise gross proceeds of RM36.36 million.

At 9.22am, KNM fell 0.5 sen to 15.5 sen with 963,500 shares traded.

Last Friday, the group said the proposed placement entails the issuance of up to 234.61 million new shares, representing 10% of the total number of its issued shares.

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