PNB says it will take up its UMW-OG rights entitlement
KUALA LUMPUR (June 9): Permodalan Nasional Bhd (PNB), the country’s largest fund-management company, has pledged to take up its full allocation under UMW Oil & Gas Corp Bhd's (UMW-OG) proposed rights issue with warrants.
It also agreed to acquire any unallocated shares should other shareholders of UMW-OG choose not to subscribe.
On May 4, UMW-OG had proposed to raise up to RM1.82 billion through a rights issue of up to 6.05 billion new shares, together with up to 1.51 billion free warrants at an issue price of 30 sen per rights share.
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