Share
KUALA LUMPUR (July 23): Ireka Corp Bhd has proposed to undertake a private placement of up to 10% of its total number of issued shares to raise an estimated RM11.58 million for working capital.
The placement will involve 18.67 million shares, which will be issued to third-party investors to be identified later at a yet-to-be issue price, the construction and property development firm said in a bourse filing yesterday.
Based on an illustrative issue price of 62 sen per placement share, the exercise is expected to raise RM11.58 million, of which RM11.38 million will be used as working capital, such as staff costs and other operating costs.
“The proposed private placement is expected to contribute positively to the earnings of the company thereafter in view of the utilisation of proceeds,” Ireka said.
It added that the placement is expected to be completed by the fourth quarter of 2021.
Get the latest news @ www.EdgeProp.my
Subscribe to our Telegram channel for the latest stories and updates
TOP PICKS BY EDGEPROP
Taman Taming Indah 2
Bandar Sungai Long, Selangor
Suria Residence by Sunsuria
Bukit Jelutong, Selangor
Suria Residence by Sunsuria
Bukit Jelutong, Selangor
Zeta Residence @ One South (Phase 6)
Seri Kembangan, Selangor
Suria Residence by Sunsuria
Bukit Jelutong, Selangor
Bandar Baru Sungai Buloh
Sungai Buloh, Selangor
The Walden @ Bandar Seri Coalfields
Sungai Buloh, Selangor
