KUALA LUMPUR: Classita Holdings Bhd (formerly Caely Holdings Bhd) plans to undertake a rights issue to raise minimum gross proceeds of RM30 million.
The company has proposed to issue up to 965 million rights shares on the basis of five rights shares for every two existing shares held, together with up to 579 million warrants on the basis of three warrants for every five rights shares.
“Based on the issue price of RM0.10 per rights share, the group will need a minimum subscription level of 300 million rights shares.
“The group intends to use up to RM21 million (under minimum scenario) or RM83 million (under maximum scenario) to fund the property development and construction business for the Bentong project in Pahang,” it said in a stock exchange filing. - Bernama