Mi Technovation plans private placement

In a filing with Bursa Malaysia, it said that based on an illustrative price of RM3.30 per placement share, the exercise would raise about RM270.68mil.

PETALING JAYA: MI Technovation Bhd has proposed to undertake a private placement to raise up to RM270.68mil to expand its business.

The semiconductor company said the exercise would involve up to 10% of its share capital, or 82.025 million placement shares, that would be issued to third-party investors to be identified at an issue price to be determined later.