KUALA LUMPUR: Jerasia Capital Bhd
plans to undertake a corporate exercise involving a rights issue with free warrants to raise a minimum of RM228mil to help fund its venture into the manufacturing and trading of gloves.
The company views glove manufacturing as the next step as it expands its foray in the personal protection equipment (PPE) as it shifts away from the manufacturing and exporting of fashion apparels and accessories.
As part of the corporate exercise, Jerasia will also undertake a private placement of up to 24.61 million new shares, representing not more than 30% of its issued shares to independent third party investor or investors.
Based on an indicative issue price of 40 sen per placement share, it hopes to raise RM9.8mil which will be used to pare down its borrowings and finance the glove business.
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