KUALA LUMPUR (July 26): Microlink Solutions Bhd, a provider of research and development on information technology solutions, has agreed to subscribe, on a private placement basis, 2 million shares in Inari Amertron Bhd at RM3.10 apiece or for a total of RM6.2 million.

On May 6, Inari had proposed to undertake a private placement of up to 333 million shares or 10% of its total issued shares to independent third party investor(s). The issue price was fixed at RM3.10 per placement share, which represented a 2.72% discount to the five-day volume weighted average price of Inari shares up to and including July 16 of RM3.1868 per Inari share. Inari is involved in the outsourced semiconductor assembly and test (OSAT) and electronics manufacturing services.

In a bourse filing today, Microlink said it will fund the subscription through internal funds.

"The subscription is part of the group’s intention of deploying excess capital into suitable quoted investment opportunities for potential capital gain and return. The subscription also represents an opportunity for the Microlink Group to expand its portfolio of investment for potential value enhancement," it added.
 
"The subscription is not expected to have a material effect on the group's earnings per share, net assets per share and gearing for the financial year ending March 31, 2022," said Microlink.

The subscription is expected to be completed by August.

Microlink shares closed up on sen or 0.39% at RM2.56 today, bringing a market capitalisation of RM620.26 million. Inari's share price, meanwhile, settled at RM3.39, up 4 sen or 1.19% from yesterday's closing. Its market value stood at RM11.34 billion.