Prescribed events which require immediate announcement
9.16
Does a listed corporation need to inform Bursa Securities when a listed corporation wants to utilise the balance of its initial public offerings proceeds which have been allocated for a project as disclosed in the prospectus, for another project?
Pursuant to Rule 9.19(33) of the ACE LR, a listed corporation is required to make an immediate announcement to Bursa Securities in respect of any change to the utilisation of proceeds raised from issuance of securities (including arising from initial public offerings) that deviates by 5% or more from the original utilisation of proceeds.