MICROLN (0126) - Microlink fixes placement price at 50 sen a share
April 21, 2015 : 8:40 PM MYT
KUALA LUMPUR (April 21): Microlink Solutions Bhd , which provides integrated banking solutions, has fixed the issue price of its private placement at 50 sen per share.
The issue price is for Microlink’s placement of up to 13.81 million shares, equivalent to 10% of its existing issued share capital. At the issue price of 50 sen per share, Microlink is expected to raise some RM6.9 million in gross proceeds.
“The issue price of 50 sen per share represents a discount of 7.17% over the 5-day volume weighted average market price of up to and including April 20, 2015, which was of RM0.5386,” the group said in a filing to Bursa Malaysia this evening.
To recap, Microlink had on April 3 last year announced it plans to raise some RM11.5 million via private placement to address the shortfall in public shareholding spread that stood at 11.48% of its total issued and paid-up capital, which is below than 25% of the minimum threshold as set by the stock exchange regulator.
Microlink had then also said the proposed private placement will be used to partly finance the acquisition of four companies — Applied Business Systems Sdn Bhd, Formis Systems & Technology Sdn Bhd, Formis Computer Services Sdn Bhd and First Solution Sdn Bhd — as well as a 60% stake in Formis Advanced Systems Sdn Bhd, for a total of RM50 million.
Microlink's (fundamental: 1.55; valuation: 0.5) shares ended its trade 29.73% or 16.5 sen higher at 72 sen today, giving it a market capitalisation of RM 99.61 million.
http://www.theedgemarkets.com
April 21, 2015 : 8:40 PM MYT
KUALA LUMPUR (April 21): Microlink Solutions Bhd , which provides integrated banking solutions, has fixed the issue price of its private placement at 50 sen per share.
The issue price is for Microlink’s placement of up to 13.81 million shares, equivalent to 10% of its existing issued share capital. At the issue price of 50 sen per share, Microlink is expected to raise some RM6.9 million in gross proceeds.
“The issue price of 50 sen per share represents a discount of 7.17% over the 5-day volume weighted average market price of up to and including April 20, 2015, which was of RM0.5386,” the group said in a filing to Bursa Malaysia this evening.
To recap, Microlink had on April 3 last year announced it plans to raise some RM11.5 million via private placement to address the shortfall in public shareholding spread that stood at 11.48% of its total issued and paid-up capital, which is below than 25% of the minimum threshold as set by the stock exchange regulator.
Microlink had then also said the proposed private placement will be used to partly finance the acquisition of four companies — Applied Business Systems Sdn Bhd, Formis Systems & Technology Sdn Bhd, Formis Computer Services Sdn Bhd and First Solution Sdn Bhd — as well as a 60% stake in Formis Advanced Systems Sdn Bhd, for a total of RM50 million.
Microlink's (fundamental: 1.55; valuation: 0.5) shares ended its trade 29.73% or 16.5 sen higher at 72 sen today, giving it a market capitalisation of RM 99.61 million.
http://www.theedgemarkets.com
