DNex proposes private placement

Dagang Nexchange Bhd (DNex) has proposed to undertake a private placement of up to 20% of the total number of issued shares to raise up to RM109.1mil.

PETALING JAYA: Dagang Nexchange Bhd (DNex) has proposed to undertake a private placement of up to 20% of the total number of issued shares to raise up to RM109.1mil for future investment, partial repayment of bank borrowings and working capital.

In its stock filings with Bursa Malaysia, the company said the issuance of placement shares would be to third party investor to be identified later at an issue price to be determined later.