Scope Industries rights issue 33% over-subscribed, raises RM64.81 million

TheEdge Fri, Jul 16, 2021 07:00pm - 2 years View Original


KUALA LUMPUR (July 16): ACE Market-listed Scope Industries Bhd said today that its one-for two rights issue at 17.5 sen per rights share was over-subscribed by 33.67%.

This is as the group saw 37.36% of valid excess applications, although total valid acceptances only amounted to 96.31% or 370.37 million shares, for the printed circuit board (PCB) manufacturer to raise RM64.81 million.

The rights shares will be listed on July 27, the company added.

Scope Industries made the cash call to raise up to RM67.3 million, mainly for the expansion of electronic manufacturing facility in Perak, future investments and working capital.

Shares of Scope Industries rose half a sen or 2.17% to 23.5 sen, valuing the group at RM271.11 million.

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