PETALING JAYA: LBS Bina Group Bhd is planning to sell convertible preferance shares as the property developer is seeking to raise up to RM165.66mil for projects in Selangor and Johor.
The stock was unchanged yesterday at RM1.96 – its all-time high.
The proposed rights issue entails the issuance of up to 150.59 million redeemable and convertible preference share (RCPS) units on a basis of one RCPS for every five existing LBS shares to the entitled shareholders.
The indicative price for the RCPS is RM1.10 a unit with 6% of proposed dividends.
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