Kobay Technology plans private placement to raise up to RM153.14mil

KUALA LUMPUR: Kobay Technology Bhd (Kobay) has proposed a private placement of up to 10 per cent of its issued shares to raise up to RM153.14 million.

In a filing with Bursa Malaysia on behalf of the company today, RHB Investment Bank Bhd said Kobay plans to use the proceeds mainly to fund its new aluminium products manufacturing plant, partial repayment of bank borrowings and working capital for the group's manufacturing division.