KUALA LUMPUR: Inari Amertron Bhd has proposed to issue up to 333 million new shares to investors, as the electronics manufacturing firm seeks fresh funds for working capital, as well as for potential acquisitions and investments.
Based on the indicative price of RM3.20 each, the private placement exercise would raise as much as RM1.065bil.
This would increase Inari's issued share capital by 10%. Shares in Inari were last traded at RM3.26 on Thursday.
The fund raising scheme, Inari said in a filing with Bursa Malaysia today, would speed up its plans to acquire "good quality, strategic, attractive and complementary" chipmakers and outsourced semiconductor test and assembly (OSAT) companies.
"With the proceeds raised from the Proposed Private Placement, the Group intends to increase its production capacity in line with the growing demand for 5G mobile phones," it said.
"The Group shall also improve utilisation of existing capacity in opto-electronics and other business units, and invest in automation to improve its revenue and profit margins," Inari added.