K-ONE TO RAISE RM7M VIA PRI­VATE PLACEMENT

The Sun (Malaysia) - - SUNBIZ -

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.

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