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We refer to the announcements dated 3 November 2010, 23 November 2010, 30 November 2010 and 16 December 2010 in relation to the Private Placement.
On behalf of the Board of Directors of QL, we wish to announce that QL has completed the bookbuilding exercise for the offering of 20,827,920 new QL Shares pursuant to the Private Placement (“Placement Shares”) representing approximately 5.01% of the enlarged issued and paid-up share capital of QL.
The Private Placement was oversubscribed with healthy demand from foreign institutional investors.
In addition, we wish to announce that the issue price has been fixed at RM5.60 per Placement Share. This represents a discount of 5.50% to the five (5)-day volume weighted average market price of QL Shares up to and including 14 January 2011 of RM5.9259 per QL Share.
Based on the issue price of RM5.60 per Placement Share and the offering of 20,827,920 Placement Shares, the Private Placement is expected to raise gross proceeds of approximately RM116.6 million.
OSK Investment Bank Berhad acted as Sole Placement Agent for the Private Placement.
This announcement is dated 17 January 2011. |
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