KUALA LUMPUR: Serba Dinamik Holdings Bhd
expects its proposed private placements will improve its net gearing to between 0.5x and 0.6x from 0.88x upon completion of the exercise in January 2021.
Its managing director and chief executive officer, Datuk Dr Mohd Abdul Karim Abdullah said the whole exercise is expected to be completed by end-January upon approval by the group's shareholders at an extraordinary general meeting (EGM) slated for Jan 20.
"Serba Dinamik proposes to issue 336,830,000 new shares in the market. Currently, the price per share has not been determined yet and it will be based on the current price at a much later date," he told Bernama in an interview recently.
Abdul Karim said if the price was based on closing price as at Dec 7, 2020 which is RM1.95, the proposed private placements would enable Serba Dinamik to raise additional equity of RM656.8 million.
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