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Nikkei Markets

Malaysia's Mudajaya Group Plans Private Placement Of Shares To Raise Up To MYR75.45 Mln

By Gho Chee Yuan
Nikkei Markets
KUALA LUMPUR (Jul 11) -- Malaysian civil engineering company Mudajaya Group said Tuesday it plans to raise up to 75.45 million ringgit ($17.56 million) via a private placement of shares based on an indicative issue price of 1.25 ringgit apiece.

The shares placement will involve the issuance of up to 10% of the total number of issued shares of Mudajaya, the company said in a stock exchange filing.

Proceeds raised from the exercise will be used primarily for construction of new power concession asset and working capital, it added.

Mudajaya aims to complete the exercise by third quarter, pending approval from Bursa Securities and other relevant authorities.
- By Gho Chee Yuan; Terence.Gho@nikkeinewsrise.com; 60320267363
- Edited By Gourab Das
- Send Feedback to feedback@NikkeiNewsRise.com
- Copyright (c) 2017 Nikkei NewsRise Asia Pte Ltd.

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