KUALA LUMPUR: Flonic Hi-Tec Bhd plans to raise up to RM36.743mil in proceeds via the issuance of 524.9 million new ordinary shares together with 349.94 million free detachable warrants.
In a filing with Bursa Malaysia, it said the proceeds would be utilised to finance its acquisition of a 21% stake in Jiwa Holdings Sdn Bhd for RM2.6mil. The rest is for capital expenditure of between RM6.78mil and RM33.52mil and other expenditures. – Bernama
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