Press Metal Aluminium Holdings Berhad following the completion of its book building exercise has fixed the issue price for 163,398,700 Placement Shares at RM5.94 per Placement Share.
With the proposed placement oversubscribed, Press Metal said the issue price was at RM5.94 per placement representing a discount of approximately 3.9% to the 5-day VWAP of PMAH Shares up to and including 25 March 2022, being the market day immediately prior to the price-fixing date, of RM6.1829 per PMAH Share.
Accordingly, the Proposed Placement is expected to raise gross proceeds of approximately RM970.6 million.
JPMorgan Securities (Malaysia) Sdn Bhd, J.P. Morgan Securities plc and Maybank IB are the Joint Placement Agents for the Proposed Placement.
