KUALA LUMPUR: Wentel Engineering Holdings Bhd
, which debuted flat at 26 sen on the ACE Market of Bursa Malaysia, has raised a total of RM71mil.
At midday, the counter rose two sen, or 7.69% to 28 sen. It is the most actively traded counter on Bursa Malaysia with 214.83 million shares done.
Of the total proceeds raised, RM40mil has been allocated to part finance the construction of two blocks of single-storey factory (with double storey office) and two blocks of workers’ hostel, with an additional built-up area of approximately 254,381 sq. ft.
It has allocated RM25mil to part finance the purchase new machinery and equipment for the new manufacturing plant while RM6mil of proceeds has been allocated for covering the listing expenses.
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