FoundPac plans to raise RM21.6mil from IPO

PETALING JAYA: Foundpac Group Bhd, en route to a listing on the Main Market on Dec 29, is expected to raise RM21.6mil which will mainly be used to purchase new machineries and finance its overseas expansion.

Under the listing exercise, 40 million shares of 54 sen each will be made available, comprising 18.5 million new shares for the public, 10.5 million new shares for eligible directors, employees and business associates as well as 11 million new shares for application by way of private placement to identified investors.