Brunei prince taking substantial stake in KLW

KLW Holdings is roping in Prince Abdul Qawi, the eldest son of Prince Mohamed Bolkiah, Minister of Foreign Affairs and Trade of Brunei, as a strategic investor.

The company will issue to him 500 million new shares at two cents each, representing about 17 per cent of the company's enlarged capital.

The placement comes with call and put options for up to two billion additional new shares. "The total proceeds from this exercise upon full completion will amount to $50 million," said K…