PETALING JAYA: Lion Industries Corp Bhd (LICB) said the “final adjusted consideration” from the disposal of its unit Antara Steel Mills Sdn Bhd had increased by RM26.15mil to RM697.74mil.

Total proceeds had increased due to the different exchange rate used and the date adopted for the closing of Antara’s account, it said in a filing with Bursa Malaysia yesterday.

LICB said the final adjusted consideration was based on Antara’s closing account as of the completion date on Dec 10, 2021 while the actual exchange rate was based on US$1 for RM4.215 as at April 7, 2021, compared to RM4.18 previously, Bernama reported.