PETALING JAYA: Equitiestracker Holdings Bhd
(ETH) plans to raise up to RM7.81mil in capital through a private placement to fund the expansion of its fund management business and strengthen its financial position.
The LEAP Market-listed company proposed the issuance of up to 65.08 million new shares, representing about 20% of its existing issued share capital, to independent third-party investors at an issue price to be determined later.
ETH said 71.7% of the proceeds raised, or RM5.6mil, will be used to develop investment platforms for its fund management operations, while RM2.01mil has been earmarked for working capital requirements.
The remaining RM200,000 will be utilised for expenses related to the exercise.
ETH said the fundraising will support enhancements to its client-facing platform, middle-office technology and back-office systems, including the implementation of an electronic know-your-customer (e-KYC) solution and a self-service treasury investment platform targeting the small and medium enterprise segment.
Subject to regulatory approvals, the private placement is expected to be completed by the fourth quarter of 2026, it said.
