KUALA LUMPUR: NationGate Holdings Bhd (NationGate) aims to raise RM165.5 million from its capital listing exercise on Bursa Malaysia’s ACE Market slated for Jan 12, 2023.
"At an issue price of 38 sen per share and an enlarged share capital of 2.1 billion shares, the company is expected to have a market capitalisation of RM788.1 million upon listing, making it the largest listing on the ACE Market of Bursa Securities,” the electronics manufacturing services (EMS) provider said in a statement.
Of the total proceeds, the company plans to use RM48.4 million (29.2 per cent) for its working capital requirements to purchase raw materials, consumables and electronic components, in tandem with the expected growth in its EMS activities.
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