KUCHING: AIZO Group Bhd has fixed the issue price of the sixth tranche of its private placement at RM0.0813 per share.
The issue price represents a discount of approximately RM0.0090 or 9.97 per cent from the 5-day volume weighted average market price (VWAMP) of AIZO shares from May 5 to 13, being the market day immediately preceding to the price-fixing date of approximately RM0.0903 per share.
AIZO has so far issued and listed on Bursa Malaysia about 155.37 million new ordinary shares issued under the first five tranches of the private placement between October 2024 and February 2025.
The first tranche involved the placement of 26.77 million shares priced at RM0.125 apiece, second tranche 44.6 million shares (RM0.12 each), third tranche 31 million (RM0.1341 each); fourth tranche 30 million (RM0.1191 each) and fifth tranche 23 million (RM0.1089 each).
AIZO intends to place out more than 234 million new ordinary shares, with the proceeds to fund the group’s ongoing construction projects as well as future projects to be secured. The ongoing projects are Selinsing gold mine, M Nova and Bating Industrial City projects, all in Peninsular Malaysia with total contract value of RM250.15 million.
The company had in March 2025 obtained the approval of Bursa Malaysia for a six-month extension up to September 18, 2025 to complete the private placement.
In an unrelated development, Sarawak Cable Bhd (SCB) said Hong Leong Islamic Bank Bhd (HLIB) solicitors Messrs Skrine had on April 30, 2025 filed a notice of application at the Kuala Lumpur High Court for leave to be granted to HLIB to enforce its security over all 27,799,707 ordinary shares in SCB’s subsidiary Leader Cable Industry Bhd (LCIB) currently held in the name of HLIB Nominees (Tempatan) Sdn Bhd. These shares have been charged by the company in favour of HLIB by a first fixed charge dated August 18, 2017.
Also sought from the High Court is leave for the sale and transfer of the shares in LCIB to MIE Industrial Sdn Bhd pursuant to the share sale agreement dated April 25, 2025 between the two parties, SCB told Bursa Malaysia.
These applications are being opposed on legal grounds by Messrs Krish Maniam & Co (represented by Messrs Ang & Wong), the applicant of the judicial management on SCB.
On the other hand, Messrs S Ravenesan representing the interim judicial manager, will also be opposing the same application on legal grounds.
The High Court had appointed the interim judicial manager to manage the affairs, business and property of SCB, a PN17 firm.
Separately, Reservoir Link Energy Bhd’s non-independent executive deputy chairman Thien Chiet Chai disposed of 12 million company shares (3.325%) at RM0.37 each on May 13, 2025.
With the disposal, Thien’s equity interest in the company has been reduced to about 68.11 million (18.871%).
