New high for Dagang NeXchange Bhd
KUALA LUMPUR: Construction firm Inta Bina Group Bhd
, slated to list on the ACE market on May 25, aims to raise RM26.76 million from its initial public offering.
Managing Director Paul Lim said the company would use RM5 million of the proceeds to invest in the Industrialised Building System (IBS) and machinery, RM9 million to repay bank borrowings, RM9.56 million for general capital requirements, and the balance RM3.2 million to defray listing expenses.
He said the group planned to enter the affordable housing segment through the usage of aluminium system formwork under the IBS.
"We believe that the usage of aluminium system formwork is best suited for affordable housing projects and will improve our cost competitiveness in the long run as it will reduce project labour cost and shorten the construction period," he after the launch of the group's prospectus in Kuala Lumpur on Friday. - Bernama
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