Industronics scales down proposed RCPS

Technical staff at Industronics factory installing chips and other electronics gear on to the back of an electronic display system. - File pic

PETALING JAYA: Industronics Bhd is scaling down its proposed issuance of new redeemable convertible preference shares (RCPS) in light of market developments and conditions.

The electronics firm, which earlier this year had proposed to raise RM20mil in proceeds by way of the RCPS, has signed a new supplemental agreement to raise RM10.67mil via the proposed issuance of up to 266.63 million RCPS at an issue price of four sen per RCPS.