DGB Asia proposes 2-for-1 rights issue

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KUALA LUMPUR (Sept 10): DGB Asia Bhd has proposed a two-for-one renounceable rights issue of up to 355.16 million new shares, together with up to 266.37 million free detachable warrants on the basis of three warrants for every four rights shares subscribed.

The price for the rights issue and the entitlement date will be determined later.

DGB is involved in the information and communication technology sector. The company has been loss making, with a net loss of RM2.17 million in the nine-month ended June 30, 2014 on revenue of RM7.54 million.

The counter closed 1 sen lower at 14.5 sen yesterday, with a market capitalisation of RM23.6 million.