KUALA LUMPUR: Bina Puri Holdings Bhd
is exploring various fundraising possibilities including the private placement to meet its interim funding for ongoing construction and property development projects.
In an announcement to Bursa Malaysia on Monday, it said the interim funding would also be to repay bank borrowings and working capital as the earlier proposal of a share placement only would be insufficient.
The company had on July 10 announced it was looking into placing out 10% of its paid-up capital or 76.40 million shares to raise between RM5.57mil and RM9.08mil.
Bina Puri cited the Covid-19 pandemic and the movement control order (MCO) from March 18 had caused the suspension of its construction and property development activities.
...