Bursa Securities approves FSBM’s PN17 regularisation plan

Bursa Securities approves FSBM’s PN17 regularisation plan FMTNews FMTBusiness

FSBM Holdings fell under the PN17 classification in December 2019, and submitted its proposed regularisation plan on Oct 15, 2021.

The information technology service and systems provider said its regularisation plan comprises a proposed capital reduction exercise, proposed shares issuance and proposed rights issue of shares with free warrants. The proposed renounceable rights issue relates to 23.67 million rights shares on the basis of one rights share for every one existing FSBM share held, at an issue price of three sen per rights share, together with up to 118.33 million free warrants on the basis of one warrant for every two rights shares subscribed, held on an entitlement date to be determined later.

The proceeds from the fund-raising proposals will be utilised mainly for the expansion of the group’s existing IT services business and for working capital purposes.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

fmtoday /  🏆 5. in MY

Philippines Latest News, Philippines Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bursa opens mixed on higher crude oil prices, bargain-huntingBursa opens mixed on higher crude oil prices, bargain-hunting FMTNews FMTBusiness
Read more »

Bursa Malaysia dibuka bercampur-campur | The Malaysian InsightIndeks utama dibuka 0.85 mata lebih tinggi pada 1,427.89.
Read more »

Bursa edges up in sync with regional peersFBM KLCI traded in a tight range as bargain hunting activities look set to continue.
Read more »

Bursa Malaysia ends at intraday high on better sentimentKUALA LUMPUR: Bursa Malaysia ended at its intraday high today prompted by improved market sentiment across the region as bargain hunting continued particularly in industrial products and services as well as financial services counters.
Read more »

Foreign inflow continues for second weekKUALA LUMPUR: Bursa Malaysia recorded net foreign inflow of RM18.8mil in the week ended April 7, 2023, making it the second straight week of net foreign buying.
Read more »