Ivory Properties plans capital-raising exercise

Ivory Properties booth at a Star Property Fair

KUALA LUMPUR: Ivory Properties Group Bhd plans to raise about RM14.21mil in a proposed private placement of up to 20% of the total number of issued shares in the company.

Based on the indicative issue price 14.5 sen per placement share, the gross proceeds from the proposed private placement to third-party investor(s) to be identified later and at an issue price to be determined later are intended to for repayment of bank borrowings, working capital and other estimated expenses.