KUALA LUMPUR: PETRA PERDANA BHD [] has secured its shareholders' approval to raise between RM53 million and RM69.56 million from a proposed renounceable rights issue of new shares with free warrants.
Petra Perdana said on Wednesday, Sept 1 the shareholders had approved the rights issue at the EGM.
'The rights issue will be of benefit to shareholders, allowing them to increase their equity participation in Petra Perdana,' said Petra Perdana managing director Shamsul Saad.
'Proceeds raised through this exercise will go towards retiring some borrowings and enhancing Petra Perdana's cash flow management. It will also strengthen Petra Perdana's capital base,' he added.
Petra Perdana said on Wednesday, Sept 1 the shareholders had approved the rights issue at the EGM.
'The rights issue will be of benefit to shareholders, allowing them to increase their equity participation in Petra Perdana,' said Petra Perdana managing director Shamsul Saad.
'Proceeds raised through this exercise will go towards retiring some borrowings and enhancing Petra Perdana's cash flow management. It will also strengthen Petra Perdana's capital base,' he added.
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