"After due consideration of the various methods of fund raising, the board is of the view that the proposed private placement is the most appropriate avenue to raise funds," it said. The fund raising scheme was announced after the market closed. Ekovest was the most actively traded stock on Bursa Malaysia for a second consecutive day on Tuesday with more than 228 million shares traded. For the proposed share placement exercise, Ekovest has assumed an indicative price of 79 sen a share, which is the volume weighted average market price of the stock in the past five days. It will set aside RM100mil from the fund raising scheme to reduce its debts.
Source: The Star April 23, 2019 12:11 UTC