KUALA LUMPUR: MALAYSIA SMELTING CORPORATION [] Bhd's public offers shares for secondary listing on Singapore Exchange Securities Trading Ltd (SGX) has been fixed at at S$1.75 or RM4.17 a share.
The company said on Friday, Jan 21 the issue price was a discount of about 12.21% to the five-day volume weighted average price up to and including Jan 19 of RM4.75 per share.
'The issue price is arrived at after book-building process whereby the issue price was determined based on the demand by institutional and selected investors in Singapore and after taking into consideration the market price of MSC shares,' it said.
The public issue will consist of a public offer of one shares in Singapore and a placement of 24 million shares to investors, including institutional and other investors in Singapore.
MSC said it had executed a management agreement with CIMB Bank Bhd (Singapore branch) where the latter was appointed issue manager for the public issue.
An underwriting and placement agreement was also executed between MSC and CIMB Securities (Singapore) Pte Ltd and the latter would be the underwriter and placement agent for the entire portion of the public offer and the placement respectively.
The public offer opened on Friday and its closing date is Tuesday, Jan 25 at 12 noon.
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The company said on Friday, Jan 21 the issue price was a discount of about 12.21% to the five-day volume weighted average price up to and including Jan 19 of RM4.75 per share.
'The issue price is arrived at after book-building process whereby the issue price was determined based on the demand by institutional and selected investors in Singapore and after taking into consideration the market price of MSC shares,' it said.
The public issue will consist of a public offer of one shares in Singapore and a placement of 24 million shares to investors, including institutional and other investors in Singapore.
MSC said it had executed a management agreement with CIMB Bank Bhd (Singapore branch) where the latter was appointed issue manager for the public issue.
An underwriting and placement agreement was also executed between MSC and CIMB Securities (Singapore) Pte Ltd and the latter would be the underwriter and placement agent for the entire portion of the public offer and the placement respectively.
The public offer opened on Friday and its closing date is Tuesday, Jan 25 at 12 noon.
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