Malaysia's HUBline sales shares

Malaysia-based HUBline is selling up to 16.45% of its existing shares in an effort to raise capita, Seatrade Asia Online reports.

The container line has proposed a private placement that would see up to 17.33m shares sold at MYR0.20 each, raising up to MYR3.47m ($1.1m).

HUBline is also offering three additional warrants for every two placement shares subscribed to entice buyers.

“The issue price represents a premium of 186% to the five days volume weighted average market price of HUBline shares up to and including 25 May 2012 of MYR0.07 per HUBline share,” the Kuala Lumpur-listed company said.