KUALA LUMPUR: Ivory Properties Group Bhd
plans to raise about RM14.21mil in a proposed private placement of up to 20% of the total number of issued shares in the company.
Based on the indicative issue price 14.5 sen per placement share, the gross proceeds from the proposed private placement to third-party investor(s) to be identified later and at an issue price to be determined later are intended to for repayment of bank borrowings, working capital and other estimated expenses.
“The proposed private placement is to raise the requisite funds to meet the group’s immediate funding requirements.
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