KUALA LUMPUR (July 3): TDM Bhd has proposed a private placement of new shares, which may raise some RM91.86 million to finance the plantation and healthcare entity's working capital needs.

In a filing with Bursa Malaysia today, TDM (fundamental: 1.25; valuation: 1.4) said it planned to place out, up to 148.17 million shares at an indicative price of 62 sen each.

"It enables TDM to raise funds to meet its working capital requirements and expansion programme, without incurring additional interest costs, as compared to bank borrowings.

"The proposed private placement may be implemented in one or more tranches, within a period of six months from the date of the approval from Bursa Securities," TDM said.

TDM's shares closed 0.5 sen or 0.7% higher at 69.5 sen today, for a market capitalisation of RM1.03 billion.
A total of of 56,000 shares were traded.

(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)