10 COMPANY NEWS ISDN looking to rai se up to $1 50m iilbonds Engineering firm close to Myanmar Share performance govt approval for ISDN coal power project 1.400 By CAI HAOXIANG 1.200
[email protected] 1.000 AS it closes in on Myanmar government approval to de- 0.600 pow- velop the largest coal 0.400 er plant in the country, IS- DN Holdings is embarking on a round offlnancing that will see it raise 5$100 mi]- '$ lion to 5$150 million via 2012 2013 Sou.eBler&dg convertible bonds. The engineering solu- apiece, on the basis of one expected to be able to re- tions provider, which is di- warrant for every two new them. versifying into energy exist- ing ordinary shares held. "They want to invest in a projects in South-east Asia, The warrants, entitle- coal power plant, but they also plans to launch an ini- ments to which begin trad- don't have the technology tial public offering for the ing today, each camy the to do underground mining. Myanmar coal mine that right to subscribe to.one They want us to bring in ex- will supply the power plant, share at an exercise price pertise and investment," ISDN managing director of 60 cents. Mr Teo said, adding that Teo Cher Koon told Tfte ISDN's energy ventures talks began early this year Business Zirues yesterday. require about US$110 mil- after he was introduced to "Our mining proposal Iion to fund. This consists TTMCL through friends. and financial analysis for Mr Teo: "Generally, I agree that our share price ran of US$20 million to be The coal power plant coal power plant got ahead ..