KUALA LUMPUR (Jan 22): PLS Plantations Bhd has proposed to place out 19 million new shares in the durian planter to CIMB Group Holdings Bhd ex-chairman Datuk Seri Nazir Razak at 95 sen each under a private placement of up to 10% of the total number of issued shares in the company to improve its public shareholding spread and raise money to finance the expansion of its existing business. In a filing with Bursa Malaysia today, PLS said the private placement, which includes share placements to other independent third party investors, will also enable the company to raise funds to partially repay the group’s bank borrowings which stood at approximately RM121.48 million as at Dec 31, 2020.