Yong Tai to issue RM1.5 mil RCPS under ongoing fund-raising exercise

PETALING JAYA (Feb 21): Yong Tai Bhd is issuing 1.5 million redeemable convertible preference shares (RCPS) with a principal amount of RM1.5 million as part of its ongoing fund-raising exercise.

In a Bursa Malaysia filing on Friday, the company said the subscriber has agreed to subscribe for three equal sub-tranches under Tranche 1, comprising 1,500,000 RCPS at an issue price of RM1 per share.

The acceptance was received by the company on Thursday (Feb 19), following the subscription on Monday (Feb 16).

The parties to the subscription agreement have agreed that the targeted closing date for the issuance of the RCPS is Feb 24.

The issuance forms part of Yong Tai’s broader proposal to issue up to 180 million new RCPS at RM1 each.

This announcement is dated Feb 20, 2026.

Yong Tai closed unchanged at RM 0.145, matching its previous close. The counter opened at RM0.145 and navigated a narrow day range between RM0.140 and RM0.145 throughout the session.

Turnover was recorded at 58,700 shares, which is significantly lower than its typical three-month average of 195,900 shares. The market displayed a "wait-and-see" attitude despite the company’s announcement of a new RM 1.5 million RCPS issuance (part of a larger RM180 million exercise) with a targeted closing date of Feb 24.

The stock continues to trade in a depressed territory, well below its 52-week high of RM0.240. Market participants appear to be looking for more definitive progress on the group’s proposed RM160 million disposal of the Courtyard by Marriott Melaka hotel to Southern Envoy Sdn Bhd as a primary re-rating catalyst.

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