KUALA LUMPUR (March 28) : NEXTNATION COMMUNICATION BHD [] plans to raise up to RM15.49 million under a private placement of 137.21 million new shares to finance the telecommunication software developer’s commercial land acquisition, and capital needs.
In a statement to the exchange on Wednesday, Nextnation said the placement shares which account for 30% of its issued share base, will come with free detachable warrants. These warrants will be issued on the basis of three warrants for every two new shares.
Nextnation said the private placement will be undertaken after the company’s planned bonus issue of 45.74 million warrants on the basis of one warrant for every 10 existing shares held.
Proceeds from the private placement will partially finance the firm’s purchase of a RM18.52 million land measuring 5.9 acres (2.4ha) in Cyberjaya to accommodate the group’s office , data centre, research and development laboratory, and incubation campus. The land will be acquired from Cybeview Sdn Bhd, a subsidiary of the Minister of Finance Inc, according to Nextnation.
Trading of Nextnation shares was suspended from 2.30pm to 5pm on Wednesday in conjunction with the announcement of the corporate exercises The stock was last transacted at 10.5 sen.
In a statement to the exchange on Wednesday, Nextnation said the placement shares which account for 30% of its issued share base, will come with free detachable warrants. These warrants will be issued on the basis of three warrants for every two new shares.
Nextnation said the private placement will be undertaken after the company’s planned bonus issue of 45.74 million warrants on the basis of one warrant for every 10 existing shares held.
Proceeds from the private placement will partially finance the firm’s purchase of a RM18.52 million land measuring 5.9 acres (2.4ha) in Cyberjaya to accommodate the group’s office , data centre, research and development laboratory, and incubation campus. The land will be acquired from Cybeview Sdn Bhd, a subsidiary of the Minister of Finance Inc, according to Nextnation.
Trading of Nextnation shares was suspended from 2.30pm to 5pm on Wednesday in conjunction with the announcement of the corporate exercises The stock was last transacted at 10.5 sen.
