Nanyang Siang Pau, 19 August 2011 - Dijaya Corp Share Placement to Raise RM260 million

Nanyang Siang Pau, 19 August 2011

Dijaya Corp (Dijacor, 5401) reported to Bursa Malaysia that it plans to raise a maximum share of 30% through private share placement at an issue price with face value worth RM1 each.

Dijaya Corp said that, as at 11 August 2011, the company has raised a maximum of RM456,360,849 through the issue of 456,360,849 common shares of RM1 each.

Dijaya Corp also said that based on the share value of RM1.49 each, the company calculated that it will be able to raise a maximum of RM264,430,000 and a minimum of RM203,990,000.

The company will utilise the gross proceeds to purchase land as well as for business transactions. Part of these will also be used for other miscellaneous expenses.