In just nine months after being listed in Bursa Malaysia, CAP announced a private placement exercise of up to 60 million new shares, representing up to 10% of its total share capital.
The timing of the placement exercise may raise eyebrows considering that CAP’s share price had tumbled from its IPO price of 68 en to 35 sen on04 Oct 2013.
The company said the private placement is being undertaken mainly to enlarge the shareholder base of the company which had raised rm61.2 million via the IPO of 90 million new shares at 68 sen per share.
CAP’s cash and cash equivalents stood at rm195.8 million as at June 30 2013.
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