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Judul : MRCB announces cash call proposal to raise up to RM2.86b
link : MRCB announces cash call proposal to raise up to RM2.86b
MRCB announces cash call proposal to raise up to RM2.86b
KUALA LUMPUR (May 17): Malaysian Resources Corp Bhd (MRCB) announced this evening that it has proposed a one-for-one renounceable rights issue to pare down its borrowings and to finance the refurbishment of the national sports complex in Bukit Jalil.
The cash call, which will be sweetened by free detachable warrants on one-for-five basis, will raise between RM2.17 billion and RM2.86 billion.
As at end-2016, MRCB’s total bank borrowings which has an average annual interest rate of 5.6%, stood at RM2.94 billion. Meanwhile, the group's cash balance was at RM592.77 million.
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