KUALA LUMPUR (June 14): Timber door maker and construction company Anzo Holdings Bhd successfully closed its rights issue on June 9, with 482.41 million shares fully subscribed.
“This represents an over-subscription of 0.08% over the total number of rights shares available for subscription under the rights issue with warrants,” it said in a filing on Bursa Malaysia today.
Anzo's renounceable rights issue together with free warrants (Warrants C) is being undertaken on the basis of six rights shares, together with three free Warrants C for every four existing Anzo shares. The issue price of the rights shares is 20 sen per share, which is also the exercise price of the warrants.

The group said successful applicants of the rights shares will be given Warrants C, on the basis of one Warrant C for every two rights shares successfully subscribed for.
“The shareholders trust has further strengthened the confidence towards the group’s initiative and plans to turn around the company. It also shows the trust towards the current board of directors and my leadership,” said the group’s managing director Datuk Eddie Chai in a separate statement today.
“With the renewed capital position and funds to be deployed to support our upcoming projects, the group will continue to be in a stronger position than before, to generate returns to shareholders in the long term,” he added.
Anzo’s shares closed 1 sen or 6.52% lower at 22 sen today, giving it a market capitalisation of RM69.1 million, with some 86.5 million shares exchanging hands. — theedgemarkets.com

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