Sunday 26 May 2024
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KUALA LUMPUR (April 23): Tiger Synergy Bhd has fixed the issue price of its 10 million new shares, being the first tranche of its private placement, at an issue price of 20 sen per placement share.

In a filing with Bursa Malaysia today, Tiger Synergy said the isue price of 20 sen per placement share represents a premium of 71.23% to the five day volume weighted average market price of Tiger Synergy shares up to April 22, 2015 of 11.68 sen per share.

The company had, on Jan 29, proposed to undertake a private placement of up to 10% of its share capital to third party investors to raise funds for its working capital property development expenditure and estimated expenses.

Tiger Synergy's (fundamental:1.2; valuation:0.9) shares closed unchanged at 12 sen today, with a market capitalisation of RM92.9 million.

(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.)

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