Redtone seek funds to expand broadband via right issue
Filed Under (Other News) by Webmaster on 13-10-2009
Tagged Under : ICULS, Redtone
REDTONE International Bhd has proposed to undertake a renounceable rights issue of up to RM41,522,330 nominal value of 10-year 2.75 per cent Irredeemable Convertible Unsecured Loan Stocks (ICULS).
It will also undertake up to 166,089,321 warrants on the basis of 10 10-sen nominal value of ICULS together with four warrants for every 10 REDtone shares held on an entitlement date to be determined later, it said in a filing to Bursa Malaysia.
Redtone said the proceeds from the rights issue would allow the group to undertake capital investments to roll out its broadband and data services in Malaysia. — Bernama
