KUCHING: AIZO Group Bhd’s executive chairman Dato Abang Abdillah Izzarim Abang Abdul Rahman Zohari has accumulated more company shares in a series of acquisition this week.
From Monday to Wednesday, he bought another 6.92 million shares for RM380,600, raising his total equity interest in the company to about RM341.39 million shares (17.272%) according to AIZO filings with Bursa Malaysia.
On November 26, Abdillah Izzarim acquired another 19.5 million shares for RM936,000 when AIZO share price plunged to low of 4sen on big volume of 99.17 million shares on announcement that the company was proposing to undertake another fund raising exercise via proposed private placement and rights issue, as well as share capital reduction.
The proposed private placement entails the issuance of up to 763.883 million new ordinary shares to certain company directors and major shareholder of the company and independent third party investor(s).
Under the proposed renounceable rights issue, AIZO plans to issue up to 3.31 billion new shares on the basis of one rights share for every one existing share held on an entitlement date to be determined later, together with up to 1.655 billion free detachable warrants on the basis of one warrant for every two rights share subscribed.
The proposed fund-raising exercise has the potential to raise up to RM195.6 million to fund the group’s construction and large-scale solar projects. From the proceeds of the exerise, AIZO plans to utilise part of it as capital injection required for the development of a 99.99 megawatts of alternating current (MWac) large-scale solar facility project to be located in Kampar,Perak.
The group’s on-going projects include the Selinsing gold mine project, high-rise residential project in Kuala Lumpur and road & drainage work for M. Nova project.
AIZO proposes reduction of RM75 million is its issued share capital to offset the accumulated losses of about RM68.32 million as at June 30, 2025.
Meanwhile, several eligible directors of AIZO had on Thursday (December 11) accepted the options granted to them under the company’s share issuance scheme (SIS).
They are Abdillah Izzarim (18.5 million options), Ahmad Rahizal Dato Ahmad Rasidi (15,837,200 options), Emma Yazmeen Yip Mohd Jeffrey Yip (14,587,200 options) and indirect 5 million options via Aiezatt Syamir Ghazali, and Lo Ling (525,000 options).
These SIS options were offered on December 3, 2025 at an exercise price of RM0.045 each.
AIZO has said that the offer of the SIS options reflect the company’s conviction in its growth trajectory and reinforces the management’s optimistic outlook on its evolving business model.
The scheme, it added, is designed to enhance employees’ confidence and further demonstrate the management’s confidence in its prospects and long-term growth, strengthening organisational alignment and fostering a deeper sense of
shared commitment across the company.
The group is involved in the manufacturing and sales of bitumen, construction and renewable energy businesses.
AIZO had recently signed a memorandum of understanding (MoU) with K2 Bitumen Sdn Bhd to explore the establishment of a green bitumen facility in Sarawak to produce crumb rubber modified bitumen and other sustainable bitumen formulations.
