MNHB aims to raise RM17.2mil from ACE Market IPO

(Left to right) Lee Yoke Wah, Associate Director, M&A Securities Sdn Bhd; Gary Ting, Head of Corporate Finance, M&A Securities; Datuk Bill Tan, Managing Director of Corporate Finance, M&A Securities; Datuk Clement Toh, Executive Director, MN Holdings Bhd; Loy Siong Hay, Managing Director, MN Holdings; Dang Siong Diang, Executive Director, MN Holdings; Datuk Zainurin Haji Karman, Chairman of MN Holdings; and Danny Wong, Deputy Head of Corporate Finance, M&A Securities

KUALA LUMPUR: MN Holdings Bhd (MNHB) plans to raise RM17.2mil from its listing on the ACE Market of Bursa Malaysia for business expansion.

The underground utilities and substation engineering specialist said of the proceeds, RM5.84mil will go towards purchasing machinery and equipment, RM4.3mil for general working capital and the remainder to repay bank borrowings and cover the listing expenses.