KUALA LUMPUR, April 8 — VSolar Group Bhd has proposed to undertake a renounceable rights issue of up to 791.85 million new shares together with up to 395.93 million free detachable warrants in the company .
“Based on an illustrative issue price of 10 sen per rights share, the gross proceeds to be raised from the exercise are intended to be utilised mainly for funding solar photovoltaic leasing projects, working capital for railway business, working capital, and estimated expenses for the proposals. VSolar said the proceeds from the proposed rights issue with warrants are earmarked for the cost of feasibility and system studies, initial design, procurement, construction and installation work and authority contributions.
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