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Published: Monday March 26, 2012 MYT 12:13:00 PM
Updated: Monday March 26, 2012 MYT 3:08:57 PM

EITA to raise RM17.5mil from IPO

KUALA LUMPUR: EITA Resources Bhd enroute to a listing on the Main Market of Bursa Malaysia in early April, expects to raise RM17.5mil in proceeds, in a bid to to set up a new elevator manufacturing facility.

The company intends to invest a total of RM12.3 million for the purchase of land, construction of the new factory and elevator test tower, as well as purchase of machinery.

From Left to Right: EITA Resources Berhad Executive Director Lim Joo Swee, Amlnvestment Bank Director/Head Corporate Finance Anuar Omar, EITA Resources Berhad Chairman Datuk Siow Kim Lun and Group Managing Director Fu Wing Hoong after the launch.

Group managing director Fu Wing Hoong said that the new facility would expand the group's scope of services currently provided through its existing plant in Subang Jaya, and would be built on a 2.9-acre land in Bandar Bukit Raja.

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