Aemulus to raise up to RM23.6m from private placement

PETALING JAYA: Aemulus Holdings Bhd aims to raise up to RM23.62 million from a proposed private placement of 54.94 million new shares at an indicative issue price of 43 sen per placement share, representing approximately 10% of its total issued shares.

According to the group’s Bursa filing, RM7 million will be put towards future viable investment and another RM7 million will be used for research and development expenditure. A further RM5 million will be used for the repayment of bank borrowing.

RM1.5 million will be put towards marketing, branding and customer support activities, RM2.92 million will be used for general working capital and the remaining RM200,000 will be used to defray the placement expenses.

Aemulus elaborated that expenditure on R&D entails the enhancement and upgrade of tester features to improve its test system performance, as well as on an advanced radio frequency test system for testing devices with extended 5G frequency range.

In addition, the gross proceeds allocated to fund the group’s business development and marketing activities will entail proactive marketing activities in the high growth markets like the Far East region to promote its latest semiconductor test solutions.

Following the placement exercised, the group anticipated its enlarged share capital to expand to 604.42 million and its market capitalisation to be RM83.06 million.