KUALA LUMPUR: Glove company HLT Global Bhd is planning to raise as much as RM324mil by selling new shares via a private placement exercise.
Proceeds from the share sale has been earmarked for the construction on a new rubber glove manufacturing plant.
"The company has identified but yet to finalise a suitable parcel of vacant land for this purpose pending the implementation of the proposed private placement," it said in a filing with Bursa Malaysia today.
The proposed new issuance will expand the HLT's issued share capital by 20%. The company said this would involved the sale of between 104.5 million and 144.9 million new shares at a price to be determined later.
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