Salutica to raise RM62mil from IPO

Lim: ‘These favourable conditions will hopefully continue to create new possibilities for Salutica.’

KUALA LUMPUR: Salutica Bhd, en route to be listed on the Ace market of Bursa Malaysia on May 18, is poised to raise gross proceeds of RM62.4mil of which RM25mil has been earmarked to expand the company’s capacity in the production and creation of high end bluetooth related products range.

The initial public offering (IPO) price would be at 80 sen per share involving a total offering of 101 million ordinary shares comprising a public issue of 78 million new shares and an offer for sale of 23 million existing shares.