- Private placement of 166.7 million shares of 10 sen each via book-building exercise has been completed in gross proceeds of about RM397.6mill. Oversubscribed by 3.5 times.
- Believed the fund-raising exercise would be invested in the company's local marginal fields.
- PM Najib on Jan2011 announced billions of ringgit worth of investment in the oil and gas industry to enhance oil extraction from marginal fields.
- It is widely speculated that KENCANA & SAPCRES to be the local frontrunners for the marginal fields developments.
- Petronas will unveil a new business model on the development of marginal oil fields & local players are expected to JV with more experienced foreign partners.
Thursday, January 27, 2011
KENCANA gets RM398million via private placement
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