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originally meant for hotel upgrades and an eco-tourism park in Avillion Admiral Cove — for working capital and loan repayment purposes. In 2021, it raised RM22.7 million through a private placement at 12 sen per share. Its total bank borrowings currently stand at RM76.5 million. — Avillion, owned by late Daim’s son, plans RM11.5m placement to upgrade Port Dickson hotel
*Avillion Bhd (KL:AVI)*, 21.8%-owned by Datuk Dani Abdul Daim, son of the late Tun Daim Zainuddin, plans to raise RM11.5 million through a private placement of 283 million new shares to refurbish one of its main hotels, Avillion Port Dickson. This plan requires shareholders’ approval. After the new share placement, Dani’s stake will drop to 17.5%. It will also seek shareholders’ approval to reallocate RM3 million from its last private placement in 2021