KUALA LUMPUR (March 6): Mah Sing Group Bhd will issue up to RM1 billion worth of perpetual securities or bonds to finance the property developer's land acquisitions and working capital requirement. Mah Sing told Bursa Malaysia today that it had entered into agreements to establish the unrated senior perpetual securities programme. "The first issuance amounting to RM650 million in nominal value, which has been oversubscribed, is expected to be issued out of the perpetual securities programme by end-March 2017. Further details on the proposed issuance will be announced upon finalisation and completion of the proposed issuance," said Mah Sing. At 12:30pm, Mah Sing shares settled unchanged at RM1.46 for a market value of RM3.54 billion.

Source: The Edge Markets March 06, 2017 06:45 UTC