MClean Technologies raises RM13.2mil through private placement

MClean Technologies Bhd executive chairman and executive director Datuk Dr. Terence Tea Yeok Kian

KUALA LUMPUR: MClean Technologies Bhd has completed its private placement, issuing 49 million new shares at RM0.27 each, representing about 25% of the company's total issued shares, excluding treasury shares.

In a statement, the provider of precision cleaning and surface treatment solutions said the private placement exercise raised a total of RM13.2mil, which will be used mainly to fund the acquisition of We Total Engineering Sdn Bhd's (WTE) plastic business and as working capital of the plastic business.