MK Land proposes rights issue to raise RM150 million

KUALA LUMPUR: MK Land Holdings Bhd has resolved to undertake a rights issue of equity linked instruments to raise gross proceeds of at least RM150 million.

The property developer said on Jan 14 the proceeds of the rights issue would be used to partly repay bank borrowings and/or working capital.

"A detailed announcement shall be made at a later date after the terms of the rights issue have been finalised," it said.

Looking for properties to buy or rent? With >150,000 exclusive listings, including undervalued properties, from vetted Pro Agents, you can now easily find the right property on Malaysia's leading property portal EdgeProp! You can also get free past transacted data and use our proprietary Edge Reference Price tool, to make an informed purchase.