3REN eyes raising RM30.8mil from ACE Market IPO

From left: 3REN non-independent non-executive director and Malaysian Technology Development Corp CEO Mohammad Hazani Hassan, 3REN non-independent non-executive chairman Datuk Boonler Somchit, executive director and CEO Koh Dim Kuan, KAF Investment Bank Bhd CEO Rohaizad Ismail and director of corporate finance Hon Kim Teng

KUALA LUMPUR: 3REN Bhd, an automation solutions and engineering services provider, is looking to raise RM30.8 million through a public issue of 110 million new ordinary shares at an issue price of 28 sen per share under its initial public offering (IPO) prospectus launched today.

It said 62.3 per cent of the IPO proceeds will be allocated for its business expansions and operational requirements.