PETALING JAYA: Coraza Integrated Technology Bhd
’s proposed private placement will help fund its growth from 2024, says UOB Kay Hian (UOBKH) Research.
Coraza’s multi-pronged strategy seeks to have a strategic portfolio exposure, aggressive capacity expansion and grow relevance in its customers’ high-margin products.
UOBKH Research said Coraza’s high growth since 2018 has been supported by strategic portfolio exposure, advancement in manufacturing capabilities and capacity expansion.
The company, which provides a wide range of services such as fabrication of sheet metal, precision machining and related services like design and development and value added sub-module assembly services, plans to fund the new strategy through a proposed a private placement of up to 20% of shares to independent third-party investors which could raise about RM70mil at a share price of 81 sen a piece.
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