Based on the draft prospectus, CTOS’ initial public offering (IPO) exercise involves 1.1 billion shares, representing up to 50% of its enlarged issued share capital.
PETALING JAYA: Credit reporting firm CTOS Digital Bhd
, which seeks to be listed on the Main Market, plans to use proceeds from its public issue of shares to repay bank borrowings and to fund future acquisitions.
As of March 31, the group’s total borrowings stood at RM163.5mil against RM14.36mil in cash and bank balances, according to its draft prospectus filed with the Securities Commission yesterday.
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