MyNews gets nod for share placement

KUALA LUMPUR: MyNews Holdings Bhd has received approval for the listing and quotation of up to 68.2 million placement shares on the Main Market of Bursa Malaysia. The issue price has been fixed at 41 sen per share, a discount of approximately 7.18 per cent to the five-day volume-weighted average price of MyNews shares leading up to the price-fixing date. Accordingly, it expects to raise gross proceeds of RM27.96 million. Maybank Investment Bank Bhd is the sole agent for the proposed placement.