Analyst Research Report Snapshot

Title:

Company Update – MRCB (BUY, maintain) - Finally, the Nusa Gapurna acquisition

Price:

$81.00

Provider:

Affin Investment Bank

Date:

12 Feb 2013

Pages:

8

Type:

AcrobatPDF

Companies referenced:

MYRS.KL

Available for Immediate Download
Summary:

Acquiring Nusa Gapurna lands, etc for RM729m; Free warrants proposed After months of speculations, MRCB announced the proposed acquisition of four pieces of prime land from Nusa Gapurna Development (NGD) as well as Gelanggang Harapan Construction (GHC) and Gapurna Global Solutions (GGS) for a total indicative consideration of RM729.0m, which will be satisfied via a combination of cash of RM111.0m and up to 398.7m new ordinary shares in MRCB at an issue price of RM1.55 per share together with up to 113.9m free detachable warrants. Furthermore, MRCB has proposed the issuance of up to 473.5m free warrants to all existing entitled shareholders on the basis of one for every three shares held.

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