Hunza plans rights issue

HUNZA Properties Bhd plans to raise at least RM43 million from a rights issue to finance ongoing projects, investments or fund working capital.

The property developer has proposed to issue up to 45.21 million new shares on the basis of one new share for every 10 existing shares, it said in a statement to Bursa Malaysia.

It has also offered one free warrant, with a maturity of five years, for every one rights share. It has yet to fix the issue price but it will not be lower than RM1.

By Business Times