KUALA LUMPUR: Serba Dinamik Holdings Bhd is looking to raise up to RM232.9 mil by selling new shares to reduce gearing and for general working capital requirements, according to a term sheet seen by Reuters.
The firm, which provides engineering solutions for the oil and gas and power generation industries, is offering more than 153 million new shares, equivalent to 5% of its existing outstanding shares, priced at a discount between RM1.49-RM1.52 per share.
At that range, the company will raise between RM228.3 mil and RM232.9 mil. Bookbuilding began on Thursday, the document showed.
Serba Dinamik did not immediately respond to a request for comment.
Affin Hwang Investment Bank, CIMB Investment Bank and Credit Suisse are the appointed bankers for the share placement exercise. – April 23, 2020, Reuters
