澳5官网（www.eth0808.vip）:MAG proposes private placement

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KUALA LUMPUR: Mag Holdings Bhd has proposed to undertake a private placement of new ordinary shares in the company, representing up to 10 per cent of its total number of issued shares.

Based on an illustrative issue price of 0.1668 sen per placement share, the proposed private placement is expected to raise gross proceeds of RM24.07 million under the minimum scenario, and RM35.51 million under the maximum scenario.

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The proceeds will be utilised for the expansion of the Wakuba Farm, working capital, and expenses related to the proposed private placement.

On prospects, MAG Holdings said the group would continue to focus on prawn aquaculture as the main business driver to further strengthen its position as a leading prawn aquaculture player in the industry. - Bernama

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