Infoline Tec to raise RM23.7mil from listing exercise

KUALA LUMPUR: Information technology (IT) infrastructure and cybersecurity solution provider, Infoline Tec Group Bhd, en route to a listing on Bursa Malaysia’s ACE Market on July 13, plans to raise RM23.68 million from its initial public offering (IPO) exercise.

In its prospectus, the company said its IPO entails an offering of 96.25 million shares, comprising a public issue of 74 million new shares and offer for sale of 22.25 million existing shares via private placement to selected investors at an issue price of 32 sen per share.