DGB shares rise on rights issue proposal

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KUALA LUMPUR (Sept 11): DGB Asia Bhd shares rose in early trade on Thursday after the company proposed a two-for-one renounceable rights issue of up to 355.16 million new shares, which is sweetened by up to 266.37 million free detachable warrants on the basis of three warrants for every four rights shares subscribed.

At 9.15am, DGB rose 3.45% or half a sen to 15 sen with 9.86 million shares done.

DGB, which is engaged in the development and provision of software and engineering consultancy, expected to garner as much as RM35.52 million proceeds for its working capital in the proposed rights issue with warrants.

The group has been loss making in the past four financial years.