Two companies that kicked off 2019 on opposite ends of the spectrum are Velesto Energy Bhd and Dayang Enterprise Holdings Bhd . “Velesto has secured new jack-up (JU) rigs that are expected to be fully utilised by May. Earlier this week, Perdana Petroleum proposed to undertake a rights issue of redeemable convertible preference shares (RCPS) that could raise up to RM506mil. Dayang has provided a written unconditional and irrevocable undertaking to Perdana Petroleum to subscribe up to RM455mil of the RCPS. At last look, Velesto shares were trading at 28.5 sen apiece, while Dayang shares were at RM1.13 each.

Source: The Star May 22, 2019 23:31 UTC