KUALA LUMPUR (Nov 20): Ikhlas Capital Singapore Pte Ltd is not considering taking part in Country Heights Holdings Bhd's (CHHB) private share placement that aims to raise close to RM58 million, according to a source close to the private equity fund. When contacted, Ikhlas Capital's spokesperson declined to comment, saying it is the company's policy not to comment on market speculation. The company intends to place out up to 54.7 million shares or 20% of its existing issued share capital at an indicative price of RM1.06. CHHB's minority shareholders will face substantial shareholding dilution given the issue of new shares for the asset acquisition plus the private placement. The share price of CHHB, which has been bleeding losses in the past financial years, staged a rebound last month after it retreated from this year's around RM1.45-level.
