Benalec shares fall on news of private placement
12 Apr 2018 / 12:14 H.
PETALING JAYA: Benalec Holdings Bhd's share price fell 1.59% this morning, after it proposed a private placement exercise to raise up to RM31.4 million.
The counter fell half a sen or 1.59% to 31 sen with 488,000 shares changing hands, giving it a market capitalisation of RM251.7 million.
Benalec said bulk of the proceeds will be allotted to fund the group's ongoing and future land reclamation projects, followed by working capital requirements.