Genetec plans to riase up to RM154.8mil via private placement

KUALA LUMPUR: Industrial automated equipment developer Genetec Technology Bhd plans to undertake a private placement of up to 10 per cent of its shares to raise up to RM154.8 million.

Under the maximum scenario, assuming the placement shares are valued at RM2.16 per share, the group intends to utilise RM94,000 of the proceeds for the expansion of manufacturing facilities, working capital requirements (RM57,800) and the estimated expenses in relation to the exercise (RM3,000).