KUALA LUMPUR: Bursa Malaysia Securities Bhd has approved IBRACO BHD []'s proposed regularisation plan which includes a land acquisition for RM16 million and joint venture property project.
It said on Monday, Dec 6 that Bursa Securities had also approved the listing of the 16 million Ibraco shares pursuant to the proposed acquisition of 2.62 ha of land from Datuk Wee Song Ching.
The regularisation plan involved the proposed acquisition of the 2.62 ha of mixed zone land from Wee for RM16 million to be satisfied via the issuance of 16 million shares of RM1 each in Ibraco at RM1 per share.
The plan also involved a proposed joint venture with Ibraco, Wee and Ibraco's unit Ibraco-LCDA Sdn Bhd to develop about 62.32 ha of land in Muara Tebas district in Kuching.
It said on Monday, Dec 6 that Bursa Securities had also approved the listing of the 16 million Ibraco shares pursuant to the proposed acquisition of 2.62 ha of land from Datuk Wee Song Ching.
The regularisation plan involved the proposed acquisition of the 2.62 ha of mixed zone land from Wee for RM16 million to be satisfied via the issuance of 16 million shares of RM1 each in Ibraco at RM1 per share.
The plan also involved a proposed joint venture with Ibraco, Wee and Ibraco's unit Ibraco-LCDA Sdn Bhd to develop about 62.32 ha of land in Muara Tebas district in Kuching.
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