Friday 29 Mar 2024
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KUALA LUMPUR (Nov 21): CME Group Bhd announced that its rights issue of irredeemable convertible unsecured loan stocks (ICULS) was undersubscribed by about 11.1% of total RM35.29 million nominal value.

In its filing to Bursa Malaysia today, the fire fighting equipment maker turned property developer announced there were RM31.37 million nominal value of valid acceptances and excess applications received under the rights issue of ICULS on the closing day today.
 
This represents an under-subscription of RM3.91 million nominal value of the rights ICULS, or about 11% over the total of RM35.28 million nominal value of the rights ICULS available for subscription under the rights issue.

Despite the under-subscription, the amount has surpassed the minimum subscription level of RM27 million nominal value, thus CME Group will proceed further with this corporate exercise.

The group expects the rights ICULS to be listed on Bursa next Friday (Nov 28).

CME Group fell half sen or 7.14% to 6.5 sen today, valuing the group at RM28.67 million.

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