Kumpulan Jetson proposes private placement

PETALING JAYA (Jan 17, 2014): Kumpulan Jetson Bhd is planning a place out 17.1 million new shares to raise up to RM12.57 million for its working capital.
The indicative issue price of 74 sen per share is a 10% discount to its theoretical ex-price shares and five-day volume weighted average market traded price of its existing shares.
The group said in a filing with Bursa Malaysia yesterday that it plans to place out the shares to third party investors to be identified at a later date.
The shares will be placed out via KAF Investment Bank Bhd, the adviser and sole placement agent for the exercise.
Jetson said the proposed private placement are expected to contribute positively to of the Group.
"Upon completion of the proposed private placement, the enlarged capital base is also expected to further strengthen the financial position of the company," it added.