Rex Industry Bhd has proposed to implement a private placement of up to 10 per cent of its issued and paid-up share capital to raise approximately MYR7.85 million to repay its debts and for working capital.
The company said in a stock exchange filing that the private placement, to be issued for third party investors, comprises 5.61 million Rex Industry shares or 10 per cent of the issued and paid up share capital of Rex Industry as at June 19, 2015, at an indicative issue price of MYR1.40 per share.
