KPower plans RM100mil private placement 


KUALA LUMPUR: KPowernet Bhd is planning to raise up to RM100mil by placing out new shares to investors as the company seeks to raise cash for its recently secured solar power and mini hydro power projects.

The fund raising scheme was expected to be completed by the second quarter of 2021.

In a filing with Bursa Malaysia today, KPower has proposed to issue 48.78 million new shares, or 10.8% of its issued share capital to investors to be identified at a later date.

The illustrative issue price was assumed at RM2.05, based on the volume weighted average price of the stock over three months.

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