Sweetener wins the deal for MFM's funding drive

Written by Editor

Focus MalaysiaMalayan Flour Mills Berhad (MFM) has recently completed a massive cash call comprising a rights issue of Redeemable Convertible Unsecured Loan Stocks (RCULS) and rights issue of ordinary shares.  The rights issues exercise comprised the issuance of 165.09 million RCULS at its nominal value and issue price of RM1.00 and 220.11 million shares at subscription price of 50 sen per share.  As a sweetener to shareholders, subscribers of RCULS will receive one bonus share and one free warrant for every two RCULS subscribed.  Investors who took up the rights issue of shares will receive one bonus share and one free warrant for every four right shares subscribed.  MFM’s RCULS (MFLOUR-LA) and new warrant (MFLOUR-WC) made their debut at Bursa Malaysia on 28 January 2019.  MFLOUR-LA and MFLOUR-WC ended trading on 29 January at 99.5 sen and 16 sen respectively.

To read the rest of the article, you must Login