Key Asic says planning private placement

PETALING JAYA: Key Asic Bhd said today it plans to undertake a private placement following an earlier announcement that it is in the midst of conducting a corporate exercise.

Last Wednesday, it voluntarily told Bursa Malaysia that a corporate exercise is underway after its share price jumped 63.6%.
In today's filing with the stock exchange, Key Asic said the details of the proposed private placement have yet to be finalised and is still subject to the approval of the board. It will make the necessary announcements to Bursa Malaysia once it has finalised the details in respect of the proposed private placement.
Key Asic is involved in the application-specific integrated circuit design services for consumer, wireless and personal electronic applications. Its shares fell 5.3% to 27 sen on some 19.56 million shares done today.