Thursday 28 Mar 2024
By
main news image

KUALA LUMPUR (Jan 22): Serba Dinamik Holdings Bhd said today its proposed private placement involving 336.83 million new shares was oversubscribed by 1.85 times.

In conjunction with the completion of the private placement’s book-building exercise, the oil and gas service provider said in its bourse filing the issue price of the private placement shares was fixed at RM1.51 per share, representing a discount of 8.1% to the five-day volume weighted average market price of its shares up to and including Jan 21 of RM1.64.

At RM1.51, the company is expected to raise gross proceeds of RM508.61 million.

Meanwhile, Serba Dinamik said the placement shares issued to its managing director and CEO Datuk Dr Mohd Abdul Karim Abdullah, who is also the company’s largest shareholder, amount to 56.29 million shares or 1.7% of the existing total number of the company issued shares (excluding treasury shares) as at Jan 21.

“Any final allocation of placement shares to investors under the proposed private placement is subject to the review and approval of Bursa Securities which will occur subsequent to the date hereof and the final number of placement shares to be issued and allotted under the proposed private placement shall be determined thereafter accordingly,” it added.

Previously, Serba Dinamik has earmarked a sum of RM303.46 million from the proceeds for projects in Abu Dhabi. It also intends to use RM100 million to repay its borrowings and another RM100 million for its Teluk Ramunia Yard project in Johor.

Trading in Serba Dinamik shares was halted for an hour today, from 9am to 10 am.

At midday break, Serba Dinamik fell 3.68% or six sen to RM1.57, valuing it at RM5.32 billion.

Edited BySurin Murugiah
      Print
      Text Size
      Share