Dolphin to raise RM31mil from Bursa listing

KUALA LUMPUR: Dolphin International Bhd, which is en route to a listing on the Main Market of Bursa Malaysia on June 9, is raising gross proceeds of RM31.28mil from its initial public offering (IPO).

The palm oil mill manufacturer will use RM11mil of the proceeds for factory renovation and extension (including the purchase of additional machinery), RM6.08mil for working capital, RM4mil to set up a research and development facility, RM6mil to repay bank borrowings and the balance RM4.2mil for listing expenses.