SERI KEMBANGAN (Nov 29): Sapura Energy Bhd had today secured investors’ endorsement for its proposed rights issue to raise up to RM3.98 billion to pare obligation. The organization said it had received institutional financial specialists’ help for the activity.
Addressing reporters after Sapura Energy’s exceptional general meeting (EGM) here today, group president and CEO Tan Sri Shahril Shamsuddin said, “The EGM was extremely smooth, in view of the strong sponsorship from the institutional assets towards these activities.”
On Aug 24 this year, theedgemarkets.com announced that the oil and gas administrations supplier had proposed a rights issue of new conventional shares other than Islamic redeemable, convertible preference shares (RCPS-I) in the organization to raise up to RM3.98 billion to lessen borrowings.
Sapura Energy was quoted as saying in a documenting with Bursa Malaysia at that point, that the rights issue of up to 9.99 billion new customary offers at 30 sen each includes 998.69 million free warrants. Sapura Energy said the activity will be attempted based on five rights shares for every three offers held and one warrant for each 10 rights share.
Sapura Energy said the rights issue of up to 2.4 billion RCPS-I at 41 sen each is based on two RCPS-I for every five offers held.