PETALING JAYA: Volcano Bhd
is proposing to undertake a private placement of up to 49.5 million new ordinary shares, and at the same time is seeking a waiver of pre-emptive rights of its existing shareholders to these proposed new shares.
The exercise, if approved, would see the nameplates and plastic injection moulded parts manufacturer increase its volume of shares in issue to 214.5 million, from the current amount of 165 million shares.
In a statement to Bursa Malaysia yesterday, the group noted the purpose of the private placement exercise is to raise capital for the group, totalling to about RM42.8mil.
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