Raising RM325m. Mah Sing announced a proposed issuance of up to RM325m nominal value of 7-year redeemable convertible secured bonds. The convertible bond will have a maturity of 7 years from the date of issuance, with a coupon rate of 3.5% per annum payable on a semi-annual basis. Conversion price will be at a premium of about 15% to the 5-day volume weighted average market price (VWAMP) of Mah Sing shares on a price-fixing date to be determined by the Board. The bond can be converted anytime up to the maturity date of the bond. Details on the bond will be finalised in six months time.
Mah Sing Group Berhad : Raising Fund For Landbank Acquisitions - 13/09/2010
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