KUALA LUMPUR (Dec 21): SMRT Holdings Bhd will place out 210 million shares in Asiamet Education Group Bhd, representing a 16.9% stake in the company to third party investors namely Dayatahan Sdn Bhd, Lembaga Tabung Haji, Kenanga Private Equity Sdn Bhd and Kenanga Investment Bank Bhd.
In a filing with Bursa Malaysia today, SMRT said that its wholly-owned subsidiary SMR Education Sdn Bhd (SESB) had entered into placement agreements with various third-party investors to place out the shares.
Dayatahan, which is owned by Roslan Abdul Ghani and Ahmad Najmi Kamaruzaman, will take up an 8.9% stake in Asiamet, while Tabung Haji will take a 4.4% stake, Kenanga Private Equity 2.4% and Kenanga Investment 1.2%.
The placement will result in a public shareholding spread of 25.4% for Asiamet. Other substantial shareholders in Asiamet include SESB and Creador II, LLC.
The placement price per share was not stated in its filing today, however based on SMRT’s Aug 24 circular to shareholders, the price is set at 20 sen per placement share, bringing the total placement proceeds to RM42 million.
SMRT shares closed up 1 sen or 6.2% to 17 sen today and for a market capitalisation of RM61.45 million.