Written by Financial Daily
Friday, 14 August 2009 11:57
KUALA LUMPUR: GREEN PACKET BHD [ GPACKET 0.845 0.000 (0.000%) ]’s net loss widened to RM27.87 million in its second quarter (2Q) ended June 30, 2009 from RM4.89 million a year earlier, mainly due to heavy promotional activities and subscriber acquisition costs for its broadband business.
Revenue, however, jumped 151% to RM56.47 million from RM22.45 million. For the six months ended June 30, its net loss widened to RM50.1 million from RM7.62 million a year earlier.
In a separate announcement on its renounceable rights issue together with free detachable warrants, Green Packet said the issue price for the rights shares was fixed at 50 sen each and the exercise price for the warrants at 95 sen each.
The exercise involves up to 208.32 million new rights shares together with 208.32 free detachable new warrants on the basis of one rights share with warrant for every two existing shares of 20 sen each held in Green Packet.
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