Niche Capital proposes private placement

PETALING JAYA: Niche Capital Emas Holdings Bhd has proposed to undertake a private placement of up to 30% of the total number of its issued ordinary shares to raise gross proceeds of up to RM37.66mil mainly to further fund its mining business.

In a filing with Bursa Malaysia, it said the private placement will entail the issuance of 369.23 million shares, and the gross proceeds are expected to be utilised for the mining business in Sokor North Area in Kelantan (RM23mil), property-related business (RM5mil), working capital (RM8.56mil) and expenses for the placement (RM1mil). — Bernama