Submitting Merchant Bank : CIMB INVESTMENT BANK BERHAD |
Company Name : HAP SENG CONSOLIDATED BERHAD
Stock Name : HAPSENG
Date Announced : 12/05/2011
Type : Announcement
Subject : NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS)
Description : HAP SENG CONSOLIDATED BERHAD (“HSCB” OR THE “COMPANY”)
(I) PROPOSED PLACEMENT;
(II) PROPOSED BONUS ISSUE; AND
(III) PROPOSED RIGHTS ISSUE WITH WARRANTS.
(COLLECTIVELY, (I) TO (III) ABOVE ARE REFERRED TO AS THE “PROPOSALS”)
Announcement Details/Table Section :
We refer to the announcements made on behalf of HSCB in relation to the Proposals dated 7 January 2011, 28 January 2011, 10 February 2011, 17 February 2011, 18 February 2011, 2 March 2011, 3 March 2011 and 15 March 2011 (“said Announcements”). Unless the context otherwise requires, all expressions used herein shall have the same meanings assigned thereto in the said Announcements.
On behalf of HSCB, CIMB Investment Bank Berhad (“CIMB”) is pleased to announce that the book-building exercise for the Proposed Placement (hereinafter referred to as the “Placement”) has been completed with indications of interest for approximately 62 million HSCB Shares received of which a total of 43,800,000 Placement Shares are to be allocated and issued thereunder to selected investors representing approximately 7.8% of the existing issued and paid-up share capital of HSCB of RM563,521,500 comprising 563,521,500 HSCB Shares (excluding 59,138,500 treasury shares) as at the date hereof.
The issue price per Placement Share is fixed at RM5.25, which represents a discount of approximately 9.9% to the five (5)-day volume-weighted average market price of HSCB Shares, both up to and including 11 May 2011, being the market day immediately prior to the price-fixing date, of RM5.83.
Accordingly, the Placement will raise a gross proceed of RM229.95 million.
Upon the listing of and quotation for the Placement Shares, the Placement would be completed, which will be announced in due course.
This announcement is dated 12 May 2011.