Reports said Kenanga Investment Bank has been understood to have been given the mandate to undertake the fundraising exercise, which would take the form of a bond issue to raise more than MYR500m ($155.8m). The rest of the acquisition cost will be funded by cash and the private share placement of 10% of its shares announced earlier this week.
As of 31 March, Tanjung Offshore had cash and cash equivalents of MYR126.37m.
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