Protasco to raise RM56m from listing

Protasco Bhd, which is aiming for a KLSE main board listing in the third quarter of this year, expects to raise RM56mil from its flotation exercise, its executive chairman Datuk Hasnur Rabiain Ismail said. 

''Proceeds from the listing exercise will be used to partly repay bank borrowings (RM50mil) and the balance for working capital and to meet listing expenses,'' he said after signing an underwriting agreement with Commerce International Merchant Bankers Bhd (CIMB) in Kuala Lumpur yesterday.