KUALA LUMPUR (Nov 7): Eastland Equity Bhd fell 3.12% at mid-morning today after the company said it plans to undertake a renounceable rights issue of up to 294.8 million new shares to raise funds, to finance a proposed land buy and repay some of its bank borrowings.

At 10.10am, Eastland fell 0.5 sen to 15.5 sen with 445,300 shares done.

The rights issue includes a free warrant issue of up to 147.4 million units.

It proposed the rights issue to be undertaken on the basis of six rights share for every five existing Eastland shares held, and one warrant for every two rights shares. — theedgemarkets.com

For more stories, download EdgeProp.my pullout here for free.

SHARE
RELATED POSTS
  1. TCS Group proposes 2-for-5 rights issue with free warrants
  2. Tower REIT proposes rights issue to raise up to RM66 mil to repay borrowings, refurbish properties
  3. E&O sees rights issue, future sales supporting Phase 2 Andaman Island capex outlay