XOX to issue new shares to Macquarie

KUALA LUMPUR: XOX Bhd, a mobile telecommunications products and services provider, has proposed the issuance and allotment of up to 250 million new ordinary shares of 10 sen each to Macquarie Bank Ltd.

In a statement, XOX said this would represent 42.03% of its existing issued and paid-up share capital and about 29.59% of its enlarged issued and paid-up share capital after the share issuance.

The fundraising exercise is to fuel the planned expansion of its Voopee mobile application. – Bernama