Unisem Bhd has priced the first tranche of its proposed private placement at RM4.60 per share, raising approximately RM467.5 million to support the group’s funding plans.
The announcement came after the semiconductor packaging and testing company requested a temporary suspension in the trading of its shares on Bursa Malaysia on Friday pending a material announcement on the fundraising exercise.
In a filing with Bursa Malaysia, Unisem said the first tranche of the private placement will comprise 101.64 million new shares, representing part of its proposal to issue up to 10% of its total issued share capital.
The placement shares have been priced at RM4.60 each, representing a discount of about 2% to the five-day volume weighted average market price (VWAP) of RM4.6924 up to July 2, the market day immediately preceding the price-fixing date.
Based on the issue price, the first tranche is expected to raise gross proceeds of about RM467.5 million.
The company said the 101.64 million shares form only the first tranche of the exercise, adding that the total number of placement shares, including any subsequent tranches, will not exceed 10% of its issued shares.
The issue price for any additional tranches will be determined and announced separately.
On behalf of Unisem, CIMB Investment Bank Bhd also announced that the application for the listing of the new placement shares has been submitted to Bursa Malaysia Securities.
The private placement was first announced on July 2 as part of the group’s capital raising plans. Trading in Unisem shares resumed after the company released details of the pricing and size of the first tranche.
