PETALING JAYA: Tiger Synergy Bhd’s share price rose as much as 5.88% this morning after it announced a proposed private placement that would raise up to RM10.5 million.
The stock rose 5.88% or half sen to trade at a high of 9 sen at midday, from its last adjusted closing price of 8.5 sen. A total of 7.67 million shares were traded.
Tiger Synergy proposed to undertake the private placement to raise funds for the development of its Alam Impian project in Shah Alam, Selangor.
The proposed private placement represents up to 10% of its total number of issued shares based on the mandate procured from Tiger shareholders.
The placement shares will be placed to third party investors to be identified at a later date.
