K-ONE TO RAISE RM7M VIA PRIVATE PLACEMENT
PETALING JAYA: K-One Technology Bhd proposes a private placement exercise to raise up to RM7.09 million for working capital. In a filing with Bursa Malaysia, it said the private placement entails the issuance of up to 47.27 million shares, representing up to 10% of its issued an paid-up share capital. Based on an indicative price of 15 sen per placement share, the private placement is expected to raise up to RM7.09 million for the group. Proceeds from the private placement will be used to provide additional capital to the group for its business operations and at the same time increase the flexibility of its cash flow management.