Kenanga Research said while the outlook is expected to improve from financial year 2020 (FY20) onwards, it has maintained its
PETALING JAYA: Sapura Energy Bhd
has achieved its target to raise at least RM4bil from its rights issue exercise, even as some shareholders chose not to subscribe their portion of the shares.
The company, in a statement yesterday, said the rights share offerings that came with free detachable warrants were 81.5% subscribed. For its Islamic redeemable convertible preference shares, the group saw 100% valid acceptances.
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