KUALA LUMPUR (March 14) : Milux Corp Bhd may raise up to RM5.87 million from a planned private placement of new shares in the electrical appliances manufacturer to finance the firm’s working capital needs.
In a statement to the exchange on Wednesday, Milux said it plans to place out up to 4.66 million shares at an indicative price of RM1.26 each to third party investors.
“General working capital requirements may include financing of existing business operations, amongst others, the payment of general expenses, payment of staff related expenses, and other operating and marketing expenses,” Milux said.
Milux shares fell eight sen to close at RM1.28.
In a statement to the exchange on Wednesday, Milux said it plans to place out up to 4.66 million shares at an indicative price of RM1.26 each to third party investors.
“General working capital requirements may include financing of existing business operations, amongst others, the payment of general expenses, payment of staff related expenses, and other operating and marketing expenses,” Milux said.
Milux shares fell eight sen to close at RM1.28.
