KUALA LUMPUR (Oct 4): Construction firm Aneka Jaringan Holdings Bhd (KL:ANEKA) said on Friday that it has aborted its planned private placement of up to 10% of its issued share capital, which was intended to raise up to RM15.51 million.
In a filing with Bursa Malaysia, Aneka Jaringan said the extension period to complete the private placement will lapse after Oct 5.
"After further deliberation, the company has decided not to proceed with the private placement," it said.
Aneka Jaringan had announced the proposal to issue new shares to third-party investors on Sept 3 last year, aiming to raise up to RM15.51 million to fund ongoing construction projects.
The exercise would have involved issuing up to 94.71 million shares — 10% of the company's total share base — to independent third-party investors at an issue price to be determined later.
Meanwhile, MyTech Group Bhd (KL:MYTECH) has also called off its planned private placement, which was announced on March 18 last year, as the deadline to implement the corporate exercise lapsed on Friday.
The planned placement involved issuing up to 22.37 million new shares, representing no more than 10% of the company's share base. The company hoped to raise up to RM9.2 million, to be used as working capital for its money-lending business.
Shares in Aneka Jaringan closed half a sen or 3.13% lower at 15.5 sen on Friday, valuing the company at RM104.68 million. MyTech was last traded at 42 sen, giving it a market capitalisation of RM93.98 million.