PETALING JAYA: Dolphin International Bhd
, which owns seven Uncle Don’s restaurant outlets, has aborted its proposed rights issue exercise to raise RM13.38mil.
Instead, the loss-making company plans to explore other “more expeditious manner” to raise funds for its working capital.
In a filing with Bursa Malaysia, Dolphin announced that it has withdrawn the listing application to Bursa Malaysia for the proposed rights issue.
To note, this was a downsized rights issue proposal after the company decided on Oct 13, 2023 not to implement the previous proposed rights issue to raise RM17.24mil by issuing up to 202.8 million rights shares at 8.5 sen apiece.
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