Malaysia-based plastic packaging products manufacturer, SLP Resources Berhad, has announced plans to raise MYR44.35m ($10.22m) through the issue of 16.8 million new shares in a private placement.
To be priced at MYR2.64 ($0.61) a share, the issue represents approximately 6.79% of the total shares issued by the company.
SLP Resources Berhad has engaged RHB Investment Bank Berhad as the financial advisor for the transaction.
In addition, the company has concurrently announced a bonus issue of 52,826,666 shares.
HP Indigo Division and Sun Chemical, a company based in the US, have agreed to collaborate on developing a range of low-cost digital coatings that enable digital printing on packaging applications.
The collaboration will combine Sun Chemical’s experience and knowledge of the packaging industry with HP Indigo’s digital coatings solutions.
The low-cost digital coatings are provided for brand owners, converters and printers.