“The rights shares with rights warrants are expected to be listed on the Main Market of Bursa Securities on Nov 3,” it said. The rights shares were sold at 79 sen each.
PETALING JAYA: Malaysian Resources Corp Bhd (MRCB) said its rights issue exercise has been oversubscribed.
The company, in a filing with Bursa Malaysia yesterday, said it had received applications for 2.35 billion rights shares with 470.8 million rights warrants as of the closing date on Oct 20.
This represented an oversubscription rate of 7.37% over the total number of rights shares made available for sale.
“The rights shares with rights warrants are expected to be listed on the Main Market of Bursa Securities on Nov 3,” it said.
Proceeds from the fund-raising exercise will be utilised as advances to 85%-owned subsidiary Rukun Juang Sdn Bhd to finance the Kuala Lumpur Sports City privatisation and to pare down the group’s borrowings.
Shares of MRCB were last traded at 92.5 sen on the stock exchange.
