Tuesday, September 20, 2011

HWGB rights shares undersubscribed by 79.5%

KUALA LUMPUR: HO WAH GENTING BHD [] []'s (HWGB) rights shares with new warrants were undersubscribed by 79.54% at the close of the acceptance and payment of the rights issue on Sept 13.

HWGB said on Wednesday, Sept 20 the corporate exercise involved the issuance of 115.81 million rights shares together with 57.91 million new warrants available.

However, the total valid acceptances and total valid excess applications received for the rights issue were 23.69 million rights shares together with 11.84 million new warrants which represented an undersubscription of 79.54%.

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