KUALA LUMPUR: SP Setia Bhd
has proposed to undertake a renounceable rights issue of new class C Islamic redeemable convertible preference shares (RCPS-i C) to raise gross proceeds of up to RM1.18 billion.
The proceeds would be used to finance the redemption of all the outstanding RCPS-i B which were issued on Dec 29, 2017 and bears a preferential dividend rate of 5.93 per cent, the property developer said in a filing with Bursa Malaysia today.
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