KUALA LUMPUR: Melewar Industrial Group Bhd
(MIG) has proposed to dispose of its 100% stake in Melewar Steel Tube to Mycron Steel Bhd for RM70mil cash consideration.
MIG said on Friday the corporate exercise would involve issuing 104.545 million new shares of 25 sen each in Mycron at an issue price of 44 sen per share amounting to RM46mil.
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