KNM Offers Up To 987.52 Million Private Shares - Kakiforex.com - Financial Market Media No. 1 in the World KNM Offers Up To 987.52 Million Private Shares KNM Offers Up To 987.52 Million Private Shares
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May 25, 2021

KNM Offers Up To 987.52 Million Private Shares

 KNM Group Bhd intends to undertake a private share offering of up to 987.52 million new ordinary shares for gross revenue of RM167.9 million.


According to a filing to Bursa Malaysia today, KNM said the proceeds would be used for working capital and bank loan repayments.


The size of the placement represents no more than 30% of the total issued shares of the company.



KNM said a total of 493.76 million or 50% of the placement shares would be given to major shareholders and Executive Vice Chairman Gan Siew Liat and/or related parties.


"The remaining placement shares will be given to independent investors who will be identified later," he said as reported by Bernama.


According to KNM, based on the five-day total weighted average market price (5D-VWAMP) and including the latest date of RM0.1763 per unit, the issue price of placement shares is RM0.18 each.


He added that the issue price of a professional institution or independent investor was RM0.16 per share, representing a discount of about 9.25% to 5D-VWAMP from KNM shares.