GEFUNG Holdings Bhd expects to raise RM29 million from its rights issue, which will be used to venture into new businesses that include property development- The exercise entails a reduction of par value of its RM1 ordinary shares by cancelling 80 sen, Gefung said in a statement yesterday- It also proposed a renounceable two-call rights issue of up to 193-5 million new shares of 20 sen each- This is on the basis of five rights shares for every four existing shares of 20 sen each in Gefung after the proposed par value reduction- ...
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