Aeon Credit's rights issue oversubscribed by 3.31%

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KUALA LUMPUR (Sept 12): Financing company Aeon Credit Service (M) Bhd's rights issue of 432 million irredeemable convertible unsecured loan stocks (ICULS) has been oversubscribed by 3.31%.

In a filing with Bursa Malaysia today, the group said it received valid applications and excess applications for 446.30 million ICULS.

"This represents an over-subscription of 3.31% over the total number of rights ICULS available for subscription under the rights issue," it said.

The group announced the three-year 3.5% ICULS in March. It was offered on the basis of two ICULS for every one existing share held, at RM1 each.

The group at the same time announced a one-for-two bonus issue of 72 million new shares at an issue price of 50 sen each.

The rights ICULS are expected to be listed on the Main Market of Bursa on Sept 21, the group said.

Aeon shares closed 12 sen higher at RM13 today, for a market capitalisation of RM2.87 billion.