Lately, SP Setia is in full limelight in local bourse due to some of the announcements made. And, yesterday, SP Setia was awarded a contract and proposed some of the corporate exercises subsequently. Below is some of the useful summary for investors keeping abreast with the latest developments:
The Bangsar land deal
- SP Setia was acquiring a 40-acre land along Jalan Bangsar via a land swap deal
- Government to acquire land in Setia Alam from SP Setia
- Develop a fully integrated health and research complex to be known as 1NIH Complex in Setia Alam under the Ministry of Health's purview
- Redevelop the swapped land into an integrated mixed residential and commercial project and give the Government a 20% profit sharing.
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| Source: OSK Research |
The Proposed Corporate Exercises
- Proposed private placement of up to 15% of paid-up share capital via book-building for the following purposes:
- - RM6bn KL EcoCity, which comprises a corporate tower block and retail podium
- - Setia City project, which comprises a convention centre, corporate HQ and related infrastructure
- - Fulton Lane project. A residential condominium project in Melbourne, Australia
- Proposed 1-for-2 bonus issue after the completion of the said private placement
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