PETALING JAYA: AHB Holdings Bhd proposes to raise a total of RM9.86 million from its private placement exercise.
The group told Bursa Malaysia that the size of the 10% private placement is up to 17.6 million shares and 52.81 million shares for the 30% private placement.
AHB estimates that the 10% and 30% private placement to raise RM2.46 million and RM7.39 million respectively based on the indicative price of 14 sen per share.
Proceeds from the private placement will be used for working capital (RM4.81 million), capital expenditure (RM4.13 million) and marketing expenses (RM700,000).
AHB said its working capital requirements are expected to increase due to several local contracts secured for the supply and installation of office furniture of various designs to be delivered within the next 12 months.
Source: The Sun Daily