Destini plans private placement to raise up to RM49.67m

12 Sep 2019 / 20:35 H.

PETALING JAYA: Destini Bhd proposes to raise up to RM49.67 million from a private placement exercise.

The group told Bursa Malaysia that it involves up to 231.05 million new shares, representing up to 20% of its total number of issued shares, which will be placed out to third-party investors to be identified later .

Based on the indicative issue price of 21.5 sen per placement share, the exercise is expected to raise up to RM49.67 million gross for the repayment of bank borrowings and working capital.

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