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Sanichi Technology offers lowest rights issue price of eight sen for glove stocks | Malay Mail

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KUALA LUMPUR, April 22 — Sanichi Technology Bhd is diversifying into the rubber glove industry via issuance of over 1.42 billion renounceable Rights Issue at an issue price of RM0.08 with up to 712.21 million free warrants on April 23, 2021. The free warrants will be on the basis of six rights...

Thursday, 22 Apr 2021 07:54 PM MYT

In a statement, group managing director Datuk Seri Dr Pang Chow Huat said Sanichi intends to utilise the proceeds from proposed Rights Issue with Warrants to acquire, instal and commission up to six double former glove-dipping lines. He said the estimated total capital and investment outlay required for the installation and commissioning of six double former glove-dipping lines was RM41.50 million and RM86.50 million for the 15 double former glove-dipping lines.

 

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