Rights Issue sinks SYMLIFE-WB

Written by Editor

When Symphony Life Berhad announced in April this year that it would implement a rights issue at a steep discount to the then mother share price, the warrant holders of SYMLIFE-WBmust have felt that the warrant has been sacrificed to pave way for the major shareholder to raise fund at a cheaper price.  The share price of Symphony Life then collapsed from around 80 sen when the rights issue was announced to just barely staying above the rights issue price of 35 sen at the close of trading on 23 October while the price of SYMLIFE-WBplummeted to just 3 sen.

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