Hap Seng Rights Issue @ RM1.05

Hap Seng said on 5th July that it has fixed the issue price of the rights shares at RM1.05 with the exercise price of the new free detachable warrants at RM1.65

HSC said the issue price for the rights share at RM1.05 was a discount of about 35.98% to the theoretical ex-all price of its shares of RM1.64 calculated based on the five-day volume weighted average price, up to and including July 4, of RM5.26.

The rights Issue will entail the issuance of 364.39 million rights shares and 364.39 million warrants.

Hap Seng Cons. ( nta 473, Q/Qeps 23/ 8/ 18/ 14 ) Trading at RM5.30 (pe 530/620= 8.5)