3REN to raise RM31mil from 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 RM30.8mil 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 yesterday.

It said 62.3% of the IPO proceeds will be allocated for its business expansion and operational requirements.