7-Eleven’s rights issue of warrants aborted

PETALING JAYA: 7-Eleven Malaysia Holdings Bhd has scrapped its plan to undertake a proposed rights issue of warrants, after taking into consideration general feedback as well as market reaction to the exercise.

However, it does not expect the abortion of the rights issue to have any material effect on the group’s earnings and net assets.

Last month, 7-Eleven announced its intention to issue up to 616.69 million new warrants to raise up to RM61.67 million for working capital. This was to be undertaken on the basis of one warrant for every two existing shares held at an issue price of 10 sen per warrant.