03
Jun
01:00
Hiap Teck plans MYR 214m rights issue
Malaysia’s Hiap Teck Venture plans to raise MYR 213.72 million ($58m) via a rights issue in order to replenish its working capital. The company has been increasing its steel capacity and opened a new joint venture steelworks, Kallanish notes.
Hiap Teck will offer redeemable convertible unsecured Islamic debt securities (RCUIDS) with a 5% yield to its shareholders alongside bonus share to secure the capital, reports suggest. To do so it will increase it…
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Very good overview of the weekly steel market.
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