Hi Guys,
I have a newbie question to ask.
Today after login to my trading account, I saw I have another stock in my portfolio.
It's called M3TECH-OR.
Below are the announcement from their website:
QUOTE
M3 TECHNOLOGIES (ASIA) BERHAD
Subject RENOUNCEABLE RIGHTS ISSUE OF UP TO 394,640,880 NEW ORDINARY SHARES OF RM0.10 EACH IN M3TECH ("M3TECH SHARES") ("RIGHTS SHARES") TOGETHER WITH UP TO 295,980,660 FREE DETACHABLE WARRANTS ("WARRANTS") AT AN ISSUE PRICE OF RM0.10 PER RIGHTS SHARE ON THE BASIS OF FOUR (4) RIGHTS SHARES TOGETHER WITH THREE (3) WARRANTS FOR EVERY TWO (2) EXISTING M3TECH SHARES HELD AT 5.00 P.M. ON 13 JULY 2016, BASED ON A MINIMUM SUBSCRIPTION LEVEL OF 80,000,000 RIGHTS SHARES TOGETHER WITH 60,000,000 WARRANTS ("RIGHTS ISSUE WITH WARRANTS")
Can somebody help to explain to me what does this announcement and the new stock in my portfolio means?
I'm quite new in trading and only know how to buy and sell. LOL
This post has been edited by +kool+: Jul 14 2016, 11:00 AM