THE market’s reaction to Eastern and Oriental Bhd’s (E&O) cash call is to be expected. At a time of increasing uncertainty, and when the property market is seeing a slowdown, a cash call by a property developer can be unnerving for shareholders.
In E&O’s case, the massive RM550mil cash call through a private placement and rights issue is worrying because of the dilutive impact it will have on its shareholders.
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