Cape EMS raises RM73.83mil

PETALING JAYA: Cape EMS Bhd has raised RM73.83mil via a private placement exercise involving 69 million of the company’s shares.

The company has proposed to acquire US-based electronic manufacturing services company iConn Inc for US$16.5mil to strengthen its presence in the US market.

The move also followed Cape EMS’s initial public offering, which raised RM155.7mil in March.

“In the event that the gross proceeds raised from the private placement is insufficient to fully settle the purchase consideration and the listing expenses, such shortfall shall be funded via internally generated funds and/or bank borrowings,” it said.