KUALA LUMPUR: Maxis Bhd priced its 300 million new private placement shares at RM5.52 each, enabling it to raise RM1.66 billion.
The placement price was fixed after the completion of a book-building process, Maxis said in a filing to Bursa Malaysia today.
“The private placement has been completed, attracting demand from both local and foreign institutional investors,” it added.
The issue price represents a discount of 9.24 per cent to the VWAP (volume weighted average price) of Maxis’ shares for the five market days up to June 16 (being the last trading day prior to this announcement) of RM6.08 and a discount of 6.12 per cent on its closing price of RM5.88 on June 16.
On Bursa Malaysia, Maxis shares fell as much as 35 sen or six per cent to RM5.53 on resumption of trading.
At 11.15am, the stock was traded at RM5.63 to become Bursa Malaysia's top loser.
Some 5.8 million shares changed hands.