Public Invest Research said JAKS intended to raise minimum gross proceeds of RM130mil with its major shareholder, namely Ang Lam Poah (pic) taking up to RM50mil worth, and the remaining RM80mil to be taken by underwriters to be identified later to achieve minimum subscription of RM130mil.
KUALA LUMPUR: Shares of JAKS Resources fell after it proposed another cash call to raise up to RM160.92mil while it was downgraded by Public Invest Research to “underperform”.
Its share price on Bursa Malaysia closed 15 sen lower to 88 sen.
The company proposed another cash call via a renounceable rights issue of new ordinary shares together with free detachable warrants to raise proceeds of up to RM160.92mil.
...
The content is a snapshot from Publisher. Refer to the original content for accurate info. Contact us for any changes.
Related Stocks
Comments