KEB sets issue price at RM1.08 per share

PETALING JAYA: Kumpulan Europlus Bhd (KEB) has fixed the issue price for the rights shares at RM1.08 per share and the exercise price for the warrants at RM1.18 for each of the new company's share.
The issue price for the rights shares represents a discount of about 8.47% to the theoretical ex-rights price (TERP) of KEB shares of RM1.18 based on the five-day volume weighted average market price (VWAP) of KEB shares up to and including July 14, 2014 of about RM1.26.
"The issue price for the rights shares was determined by the board after taking into consideration the prevailing market conditions, the par value of KEB shares, the historical share price and the TERP of KEB shares based on the five-day VWAP as well as the gross proceeds to be raised from the rights issue with warrants," it said in a filing with Bursa Malaysia yesterday.
It added that the exercise price for the warrants of RM1.18 is equivalent to the TERP of KEB shares based on the five-day VWAP.
The exercise price of the warrants was determined by the board after taking into consideration the prevailing market conditions, the historical share price and the TERP of KEB shares based on the five-day VWAP.