Niche Capital rights issue with warrants undersubscribed by 77.82%

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KUALA LUMPUR (Jan 22): Niche Capital Emas Holdings Bhd said today that its rights issue with warrants has been undersubscribed by 77.82%.

That means a take-up rate of only 22.18% or 369.4 million of the total 1.67 billion rights shares available for subscription.

In a filing with Bursa Malaysia today, Niche Capital said the total acceptances and excess applications were for 369.4 million rights shares, lower than the 1.67 billion rights shares available for subscription on the basis of two warrants for every four rights shares at an issue price of 4.5 sen per rights share.

The rights shares and warrants are expected to be listed on the Main Market of Bursa Malaysia on Jan 28.

Niche Capital shares closed unchanged at 4.5 sen today, with 2.48 million shares done, bringing a market capitalisation of RM14.99 million.