GPACKET-WB – Undemanding valuation, worth a look

Written by Editor

GPACKET-WB, the new company warrant of Green Packet Berhad, made its debut at Bursa Malaysia on 4 December 2018 and ended the first day of trading at 8.5 sen.  The warrant was given to the subscribers of the company’s recently completed rights issue.  Green Packet carried out a rights issue exercise at an issue price of 40 sen per share to raise around RM60 million based on one right share for every five shares held on entitlement date.  Subscriber of each right share was entitled to receive three free warrants.  As the rights issue was fully taken up after excess application, a total of RM150.20 million new shares and 450.61 million new warrants were issued.

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