Nextgreen to raise cash for GTP project

PETALING JAYA: Nextgreen Global Bhd is proposing a private placement of up to 10% of its total issued shares to third-party investors, in an effort to raise funds primarily for its Green Technology Park (GTP) project.

Based on an illustrative price of 90 sen per share, the publishing and manufacturing player looks to raise between RM89.6mil and RM92.6mil.

The bulk of proceeds, or RM70mil, would be channeled to fund the development of the GTP within the next 24 months.