KUALA LUMPUR (Dec 31): Perdana Petroleum Bhd shares fell 2.44% this morning after its rights issue of up to 1.56 billion new redeemable convertible preference shares (RCPS) was undersubscribed by 5.99%.
At 10.27am, Perdana Petroleum fell 1 sen to 40 sen, valuing it at RM311.39 million.
The group said total valid applications and excess applications stood at 1.46 billion, with the RCPS issued at 32.5 sen apiece, on the basis of two RCPS for every one share held.
This translates to a subscription of 94.01%. The RCPS will be allotted to all applicants who have applied for the RCPS allotments and excess RCPS in full.