Green Packet plans private placement offering

Kuala Lumpur, Malaysia Private Placement: Green Packet Bhd has proposed a private placement of up to 84.8 million shares to raise up to RM117.9mil to partly finance its deployment of WiMAX network and services in Sabah and Sarawak as well as Singapore.

The placement shares are proposed to be offered to major shareholders Green Packet Holdings Ltd and OSK Technology Ventures Sdn Bhd as well as independent third party investors, the company said in a filing with Bursa Malaysia yesterday.

The funds raised would be used for working capital and to strengthen balance sheet without incurring interest costs, it said.

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