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Put yourself in Tan Sri ‘s position , why would you do if this would scare retail people away ? If all sell down without new investors , he ends up buying his own shares only … tactics to buy cheap tickets ? Doesn’t make sense at his level
it is to raise fund. just that the method of raising fund is not giving shareholder an option to liquidate the warrant earlier due to non tradeable warrants - either convert to mother share or you get nothing upon expiry. Company is desperate for funds perhaps and yet did not disclose the details of the projects/investments. YTL Group made a commitment to invest £4bn in UK over the next 5 years.
Did you read the bonus issue announcement? If not, have a look at Use of Proceeds in page 4 notes 1. please read official announcement first before reading other reports. Don't take the easy way out. Ty