Lim Kang Hoo to inject RM356 million capital into Ekovest, may trigger MGO
KUALA LUMPUR: Ekovest Bhd’s largest shareholder Tan Sri Lim Kang Hoo has given his undertaking to inject up to RM355.85 million into the group via its renounceable rights issue, which could see his stake exceeding the 33 per cent of the share base.
Tan Sri Lim Kang Hoo, the largest shareholder of Ekovest Bhd, has committed to injecting up to RM355.85 million into the company through a renounceable rights issue. This move could see his stake in the group expand beyond the 33% mark, due to Ekovest's decision to issue up to 1.78 billion new ordinary shares. The rights issue will provide three shares for every five existing shares held, and Lim and his parties will ensure full subscription of any outstanding rights shares.
If other shareholders fail to participate, Lim's stake could rise to 57.54%. The proceeds from the rights issue will be used to fund various projects, such as the Laluan Istana-Kiara Expressway, EkoTitiwangsa development, and Setiawangsa-Pantai Expressway.
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