KUALA LUMPUR (June 27): MyNews Holdings Bhd has proposed a placement to raise RM29.33 million, with 78% of the proceeds to be used to fund working capital. In a filing with Bursa Malaysia, the loss-making convenience retail chain store said the proposed placement would involve an issuance of up to 68.2 million new shares — representing not more than 10% of the total number of issued shares — to third-party investors to be identified and at an issue price to be determined later. For illustrative purposes, assuming an issue price is 43 sen per share — representing a discount of approximately 7.

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