Solarvest offers private placement

PETALING JAYA: Solarvest Holdings Bhd plans to raise about RM57mil by placing out up to 6% of its shares to fund its solar projects.

The photovoltaic system contractor said half of the proceeds, or RM28mil, will be used to finance its secured Corporate Green Power Programme projects within 24 months. The exercise entails 40.22 million placement shares to be issued to independent third-party investors to be identified later.