KUALA LUMPUR (Feb 12): Maxland Bhd (KL:MAXLAND) has proposed a rights issue to raise up to RM32.07 million to fund maintenance of its timber camp infrastructure, tree replanting and plantation improvement works, and working capital. The issuance, involving up to 2.405 billion rights shares, will be offered at two sen each, on the basis of one new share for every one existing share held, the timber firm said in a bourse filing. Assuming a base case, where none of its outstanding 801.81 million warrants B are exercised, and entitlements are fully subscribed, the company expects to raise RM32.07 million from the issuance of 1.6 billion rights shares. It completed a RM6.78 million private placement and a RM51 million redeemable convertible note issuance in June 2021, a RM2.05 million private placement in December 2021, a RM13.64 million private placement in January 2023, and an RM11.37 million private placement in February 2024. The proposed rights issue is subject to shareholders’ nods at an extraordinary general meeting to be convened.

Source: The Edge Markets February 12, 2026 14:27 UTC