KUALA LUMPUR (March 26): EITA Resources Bhd (EITA) is planning to use most of its proceeds from its April initial public offering (IPO) for a new factory in Bandar Bukit Raja, Selangor.
The group, which manufactures elevators and distributes electrical and electronics components, will raise a total of RM17.5 million from its listing exercise, of which RM12.3 million would be used for the new plant, according to its statement on Monday. The listing is scheduled for April 9.
Eita group managing director Fu Wing Hoong said "the upcoming listing on Bursa will go a long way toward boosting our profile and enhancing both our technical and production capabilities".
The group's IPO consists of 23 million public issue shares, and 17 million offer-for-sale shares.
The group, which manufactures elevators and distributes electrical and electronics components, will raise a total of RM17.5 million from its listing exercise, of which RM12.3 million would be used for the new plant, according to its statement on Monday. The listing is scheduled for April 9.
Eita group managing director Fu Wing Hoong said "the upcoming listing on Bursa will go a long way toward boosting our profile and enhancing both our technical and production capabilities".
The group's IPO consists of 23 million public issue shares, and 17 million offer-for-sale shares.
