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Categories
| Adventa fixes placement price at RM1.08 |
| Business & Market 2009 | |||
| Written by The Edge Financial Daily | |||
| Friday, 10 July 2009 00:03 | |||
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KUALA LUMPUR: Adventa Bhd has fixed the issue price for the remaining placement of 4.37 million new shares of 50 sen each at RM1.08 per share. Adventa said on July 9 the issue price represented a discount of about 2.8% to the five market day volume-weighted average market (VWAM) price from July 2 to July 8 of RM1.11. The exercise is in pursuant to its earlier proposed private placement of up to 13.37 million shares representing 10% of its paid-up capital, first announced in October 2007. Since then, it had placed out a total of nine million shares at RM1.56 per share, representing a premium of about 9.9% to the five market day-VWAM price of RM1.42. The stock on July 9 rose one sen to RM1.16, with 1.23 million shares done.
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