Paragon Globe to raise RM56mil

TheStar Thu, Apr 08, 2021 08:00am - 1 month ago


In a statement, the company with interest in property development and construction said it will price its rights shares at a minimum discount of 50% to its theoretical ex-rights price. (Paragon Globe project - Filepic)

PETALING JAYA: Paragon Globe Bhd has proposed a rights issue to raise up to RM56mil.

In a statement, the company with interest in property development and construction said it will price its rights shares at a minimum discount of 50% to its theoretical ex-rights price.

Gross proceeds will be used for construction of a medical centre in Sepang, Selangor, for the acquisition of a 31.1 acres freehold land in Pulai, Johor Bahru, and for general working capital.

It said the final entitlement basis and final issue price of the rights shares shall be determined and fixed by the board at a later date after receipt of all relevant approvals.






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