Wednesday, January 4, 2012

BNM okays Hubline plan to issue more warrants to third party investors

KUALA LUMPUR (Jan 4): HUBLINE BHD [] has received Bank Negara Malaysia's (BNM) approval to issue additional warrants to third party investors subscribing to its shares under a proposed private placement exercise.

The company said on Wednesday it had received BNM's letter, dated Dec 23, for the share issuance for the placement exercise, which might include non-resident investors.

Hubline had proposed to place out new share of20 sen each, representing up to 16.45% of its paid-up together with free detachable warrants on the basis of three additional warrants for every two placement shares subscribed.

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