Translate This Page

Wednesday, March 5, 2014

Bio Osmo plans share placement (Edge)

Bio Osmo Bhd plans to place out up to 48 million new shares, to raise funds which will finance the firm's working capital needs. Bio Osmo processes and sells drinking water.

In a statement to the exchange today, Bio Osmo said it planned to place out the shares, constituting up to 10% of its issued base, to third-party investors.

"The proposed private placement will enable Bio Osmo to raise funds for the Bio Osmo group’s working capital requirements.

"The proposed private placement is expected to provide additional capital to the Bio Osmo group, for its business operations, and at the same time, increase the flexibility of the Bio Osmo group’s cash-flow management," Bio Osmo said.

Bio Osmo said, it had however, not fixed the price for the placement shares. The firm said that it would not price the shares below the stock's par value of 20 sen each.

No comments: