Combination of funding proposed

TheStar Thu, Jan 07, 2021 11:20am - 1 month ago


In a reply to a query from Bursa Malaysia yesterday, Hong Seng said RM500,000 would be funded through internally generated funds.

PETALING JAYA: Hong Seng Consolidated Bhd will be funding its 60% acquisition of Neogenix Laboratoire Sdn Bhd for RM6.5mil via a combination of internally generated funds and proceeds received from the conversion of irredeemable convertible preference shares (Iculs).

In a reply to a query from Bursa Malaysia yesterday, Hong Seng said RM500,000 would be funded through internally generated funds.

The company said it would raise the remaining RM6mil through proceeds received from the conversion of the Iculs.






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