KUALA LUMPUR: Managepay
Systems Bhd (MPay) has proposed to undertake a private placement of up to 20% of the total number of its issued shares to raise funds to strengthen its financial technologies, including the development of systems for a licensed digital bank.
Loss-making MPay is a provider of end-to-end electronic payment solutions for banks and financial institutions, merchants and card issuers.
In a filing with Bursa Malaysia on July 30, MPay said the issue price of the private placement would be determined later, based on the volume weighted average market price of MPay shares for the five market days prior to the price-dixing date, with a discount of not more than 10%.
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