Impiana Hotels Obtains Bursa Approval For Private Placement Exercise

Impiana Hotels Berhad’s (IHB) private placement of up to 86.2 million new ordinary shares has been approved by Bursa Malaysia Securities Bhd (Bursa Securities).

In a Bursa listing today (Dec 6), the group said a letter Bursa Securities dated Dec 5 (yesterday) was received by Kenanga Investment Bank (Kenanga IB), the advisor and placement agent for IHB, informing of the approval for the listing and quotation of up to 86.2 million new ordinary shares to be issued pursuant to the proposed private placement.

In a Bursa listing today (Dec 6), IHB said Bursa Securities had given the approval vide with conditions such as IHB and Kenanga IB must fully comply with the relevant provisions under the Main Market Listing Requirements.

Kenanga IB also has to furnish details of placees, required to inform upon completion of proposed private placement and provide a written confirmation of its compliance with Bursa Securities.

Last August, it was reported that IHB saw Datuk Seri Lee Hock Seng and his spouse Datin Seri Joanne Yew Hong Im emerge as the group’s largest substantial shareholders following their acquisition of 120.8 million shares or 19.9% stake in the company.

Lee is the group chairman of HYM Group, which owns and operates WOLO Kuala Lumpur and Gold3 Boutique Hotel in Jalan Bukit Bintang here.

Impiana Hotels had said the acquisition of the shares by the duo was done via a direct business transaction on Aug 11. However, Impiana Hotels did not reveal the purchase price.

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