PETALING JAYA: Solid Automotive Bhd
(SAB), a spare part maker for heavy equipment and passenger cars, plans to raise as much as RM21.15mil by issuing new shares to third-party investors.
The bulk of the proceeds from the exercise would go towards repaying bank borrowings amounting to RM10mil and working capital of RM10.65mil, the company told Bursa Malaysia yesterday.
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