KUALA LUMPUR (March 7): Wood products manufacturer Priceworth International Bhd has garnered the attention of RHB Group founder Tan Sri Abdul Rashid Hussain, who is committing to take up a 6.4% stake in the enlarged share capital of the company via a special issuance of new shares. While Abdul Rashid will take up 6.4% in the enlarged capital of Priceworth, his wife Puan Sri Emilahani Yang Mohd Yatim will take up 3.6%. Maha Gayabina Sdn Bhd will end up with 20%. The right was awarded to Anika Desiran Sdn Bhd, which is 99.99%-owned by Rumpun Capaian Sdn Bhd, the vehicle that Priceworth is buying. Priceworth said it expects to complete the special issuance by the first half of 2017.

Source: The Edge Markets March 07, 2017 13:41 UTC