KUALA LUMPUR (March 16) : OSK PROPERTY HOLDINGS BHD [] will raise some RM 24 million from a proposed rights issue which comes with free detachable warrants to finance its capital needs. Subscribers of the rights shares will also be entitled to bonus units from the company.
In a statement to the exchange on Friday, OSK Property said the rights issue will involve up to 23.74 million new shares in the company at an indicative price of RM1 each.
OSK Property said the exercise will be undertaken on the basis of one rights share for every ten existing units held while the 71.21 million free warrants will be distributed on the basis of three warrants for every one rights unit held.
The real estate developer also plans to distribute 47.48 million bonus shares on the basis of two bonus units for every one rights share held.
In a statement to the exchange on Friday, OSK Property said the rights issue will involve up to 23.74 million new shares in the company at an indicative price of RM1 each.
OSK Property said the exercise will be undertaken on the basis of one rights share for every ten existing units held while the 71.21 million free warrants will be distributed on the basis of three warrants for every one rights unit held.
The real estate developer also plans to distribute 47.48 million bonus shares on the basis of two bonus units for every one rights share held.
