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Borneo Oil proposes RM31.24m private placement

KUCHING: Borneo Oil Bhd (Borneo) has proposed another private placement that is expected to raise up to RM31.24 million to meet the group’s working capital requirements. The proposed fund raising exercise entails the issuance of up to about 1.94 billion new ordinary shares or 20 per cent of the company’s total number of issued shares. […]

Borneo Oil Bhd fixes issue price of placement share

KUCHING: Borneo Oil Bhd (BOB) has fixed the issue price for the first tranche of its private placement at RM0.0223 per placement share. The issue price represents a discount of approximately 9.72 per cent to the 5-day volume weighted average price (VWAP) of BOB shares up to and including July 28, 2022, being the last […]

Borneo Oil Bhd: RM24.74m enough for funding needs

KUCHING: Borneo Oil Bhd (BOB) thinks that the gross proceeds of up to RM24.74 million which is expected to be raised from its proposed private placement exercise is adequate to address the group’s funding requirements for the time being. The group is undertaking the proposed private placement to defray the general working capital expenses for […]

Borneo Oil buys 22.49% stake in Makin Teguh

KUCHING: Borneo Oil Bhd (BOB) will acquire additional 22.49 per cent equity interest in Makin Teguh Sdn Bhd (MTSB), which owns an integrated clinker and cement plant in Sabah, for about RM73.6 million. BOB has entered into a sale of shares agreement (SSA) with MT 23 Resources Ltd (vendor) for the purchase of about 28.36 […]