INTI Universal Holdings Bhd said it is proposing a private placement of 8.43 million shares, or 10% of its existing capital, to selected investors as yet to be identified.
The company said in a statement that based on an indicative issue price of RM5.14 a share, total gross proceeds raised would be RM43.32mil. It added that the proceeds would be used to finance part of the development of the new e-community campus for INTI College Subang Jaya, scheduled for completion at end-2006 and for working capital purposes.
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