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One of the proposals filed with Bursa Malaysia today is a Share Sale Agreement (SSA) it entered into with Ranhill Bhd to acquire 100% of Ranhill Bersekutu Sdn Bhd (RBSB) for RM93.87 million, to be satisfied by the issuance of 98.81 million new ordinary shares in Ranhill Utilities at an issue price of RM0.95 per share.
Ranhill Utilities has also signed an SSA with Ranhill Group Sdn Bhd (RGSB) to acquire 4.48 million shares or 51% interest in Ranhill Worley Sdn Bhd (RWSB) for RM117.95 million, to be satisfied by 124.164 million new Ranhill Utilities shares at the same issue price.
it couls be many reason behind like less market liquidity coz they cant issue more share so every new share worth 0.95 for 4.48mil needed or acquisition complete leads valuation will be more than 0.95.
Anyway, it means 0.95 is acceptable for big shareholder/private placement. this defensive share stand for long term, if your got spare money then put inside.
