KUALA LUMPUR: KENCANA PETROLEUM BHD []'s share placement of 166.69 million shares of 10 sen each under its bookbuilding exercise has been completed.
It said on Wednesday, Jan 26 the shares available under the private placement received strong demand from both international and domestic institutional investors.
The issue price of the placement shares has been fixed at RM2.38 each, representing a discount of about 1.65% to the closing market price of the shares on Tuesday, Jan 25 of RM2.42 each, and a discount of about 8.1% to the five-day volume weighted average market price up to Tuesday of RM2.59 each.
'Payment for the 166.69 million placement shares at RM2.38 each are required to be made by the identified placees within five market days from the price-fixing date.
'The gross proceeds to be raised from the Private Placement is approximately RM396.7 million,' it said.
It said on Wednesday, Jan 26 the shares available under the private placement received strong demand from both international and domestic institutional investors.
The issue price of the placement shares has been fixed at RM2.38 each, representing a discount of about 1.65% to the closing market price of the shares on Tuesday, Jan 25 of RM2.42 each, and a discount of about 8.1% to the five-day volume weighted average market price up to Tuesday of RM2.59 each.
'Payment for the 166.69 million placement shares at RM2.38 each are required to be made by the identified placees within five market days from the price-fixing date.
'The gross proceeds to be raised from the Private Placement is approximately RM396.7 million,' it said.
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