Aneka eyes RM46m from IPO

Independent Non-Executive Chairman of Aneka Jaringan Holdings Berhad Datuk Ir Tan Gim Foo (second,right) with Managing Director Aneka Jaringan Holdings Berhad Pang Tse Fui (second,left), Executive Director Aneka Jaringan Holdings Berhad Chong Ngit Sooi (left) and Executive Director Aneka Jaringan Holdings Berhad Loke Kien Tuck (right) executing a gimmick launch during the Aneka Jaringan Holdings Berhad prospectus launch.

KUALA LUMPUR: Aneka Jaringan Holdings Bhd, a piling and foundation specialist, aims to raise RM46.16mil from its ACE Market listing on Oct 20.

The initial public offering (IPO) exercise involves the issuance of 139.89 million new shares at 33 sen apiece, which brings its market capitalisation to RM177.57mil.

In its prospectus launched yesterday, it said the proceeds raised would be used to increase its fleet of machinery in Malaysia.

Of the RM46.16mil in total proceeds, RM17.3mil will be used to purchase rotary drilling rigs and crawler crane. The rest will be for repayment for borrowings (RM24.26mil) and to defray IPO expenses (RM4.6mil).— Bernama

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