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Article: HLG eyes RM123m from rights issue
- Article from:
- New Straits Times
- Article date:
- January 20, 2009
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New Straits Times
01-20-2009
HLG eyes RM123m from rights issue
Edition: Main/Lifestyle
Section: Business Times
Type: Company
HLG Capital Bhd plans to utilise RM123.45 million raised from a proposed rights issue to repay debt and to fund working capital for its new investment bank.
It was previously reported that HLG Capital was in the midst of setting up an investment bank within its financial services group, which will provide a range of investment banking products and services.
In a Bursa Malaysia announcement yesterday, the company said it was proposing a renounceable rights issue of up to 123.45 million rights shares at RM1 per rights share for every one existing share owned.
"The board ...