MGRC plans RM42 mil capital reduction, RM2.5 mil private placement
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Malaysian Genomics Resource Centre Bhd (KL:MGRC) plans a RM42 million capital reduction and a private placement to raise up to RM2.52 million to improve its financial position. The capital reduction aims to eliminate accumulated losses of RM27.81 million at the company level. Post-reduction, MGRC expects retained earnings of RM13.93 million. The private placement will issue up to 13.72 million new shares at an indicative price of 18.37 sen per share. The proposals require shareholder approval and are expected to complete by Q2 and Q3 of 2025, respectively.
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Source: The Edge Malaysia The copyright of this article belongs to the original author/organization.
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