The share price of Ta Win Holdings Berhad has been fluctuating widely over the past one month rising to a high of 23.5 sen before tumbling down to reach a low of 13 sen recently. The drop in share price may be due to the completion of massive cash call which involves a rights issue exercise which saw Ta Win issuing 238.84 million new shares and 477.68 million Irredeemable Convertible Preference Shares (ICPS) at an issue price of 10 sen per rights share and 2.5 sen per ICPS. The rights issue was implemented on the basis of 3 rights shares and 6 ICPS with 2 free warrant for every 1 share held on the entitlement date of 12th July 2019. This rights issue was oversubscribed by close to 55% after accounting for excess applications.
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