Gagasan Nadi Cergas plans to raise RM60mil from its IPO

In a press conference after its prospectus launch here yesterday, group managing director Wan Azman Wan Kamal said the group is confident of its prospects in the construction sector.

PETALING JAYA: Ace Market bound construction and utilities concessionaire Gagasan Nadi Cergas Bhd (GNCB) aims to raise RM60mil from its upcoming initial public offering (IPO), out of which RM42mil is from the public issue of new shares and RM18mil from the sale of existing shares.

The proceeds would go towards expansion into further utilities dealings and construction business.