Executive director/group chief executive officer Raymond Pang (pic) said Econpile has the shareholders’ mandate to issue up to 10% of new shares of the group’s total share base but only issued 6% just to raise a requisite amount to fund its working capital and for partial repayment of banker’s acceptance.
KUALA LUMPUR: Econpile Holdings Bhd
has raised RM41.2mil in proceeds via a private placement exercise involving the issuance of 80 million new shares at an issue price of RM0.515 per share.
In a statement, the piling and foundation specialist said the new shares would be listed on the Main Market of Bursa Malaysia Securities Bhd today.
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