| Written by Joseph Chin |
| Friday, 23 April 2010 20:22 |
KUALA LUMPUR: UEM Land Bhd's renounceable rights issue of 1.214 billion new shares, on a one-for-two basis, was oversubscribed by 140%.
The company said on Friday, April 23 that the close of acceptance on April 20, it received valid acceptances and excess applications for 1.699 billion rights shares.
"This represents a subscription level of 140.0% of the total number of rights shares available under the rights issue," it said.
UEM Land said 10.08 million excess rights shares would be allotted pursuant to excess application.
The rights shares are expected to be listed on the Main Market of Bursa Malaysia Securities Bhd on April 29.
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