Furniture specialist Ecomate to raise RM16.2m from IPO

KUALA LUMPUR: Muar-based ready-to-assemble (RTA) furniture specialist, Ecomate Holdings Bhd plans to raise RM16.20mil from its proposed listing on the ACE Market of Bursa Malaysia Securities Bhd.

The RM16.20mil is raised by issuing 49 million new shares at 33 sen per share and the proceeds are to partly fund its expansion plans as it embarks on the next phase of growth, it said in a statement on Friday when it launched its prospectus via a virtual event.