Catalist-listed theme park developer and operator Sim Leisure Group is seeking to raise $3.6 million through a proposed subscription of 17.7 million new ordinary shares in its capital at an issue price of 20.5 cents per share.

The new shares represent 12.0% of the existing share capital in the company and 10.7% of the enlarged share capital upon the completion of the proposed subscription.

The company, on Sept 1, entered into a subscription agreement with Tan Boon Seng and its associate Desamal Capital Sdn Bhd (formerly Tropika Kiara Sdn Bhd).

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