Kumpulan Powernet plans RM51mil private placement, share split exercise

Kumpulan Powernet deputy chairman and group managing director Mustakim Mat Nun

KUALA LUMPUR: Kumpulan Powernet Bhd has proposed to issue new shares to its substantial shareholders and other investors, as the company seeks to raise funds for recently secured construction projects.

KPowernet, in a filing with Bursa Malaysia on Tuesday, said it intends place out up to 29.3 million new stocks, or 35% of the company's issued share capital.

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Kumpulan Powernet , Datuk Mohd Abdul Karim Abdullah , Mustakim Mat Nun

   

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