INARI AMERTRON TO PROPOSE PRIVATE PLACEMENT, EXPECTS TO RAISE RM1.065 BLN
KUALA LUMPUR, May 6 -- Inari Amertron Bhd has proposed a private placement of up to 333 million shares in Inari, representing approximately 10 per cent of the total shares to independent third party investors to be identified at a later date.
In a filing with Bursa Malaysia today, the company said it is expected to raise gross proceeds of up to RM1.065 billion from the proposed private placement exercise.
It said from the proceeds, RM1.048 billion is expected to be utilised as capital expenditure, for acquisitions and investments.
The proposed private placement would strengthen net assets to RM2.61 billion after the full corporate exercise and accelerate its plans to acquire good quality, strategic, attractive and complementary semiconductor and outsourced semiconductor assembly and test (OSAT) related companies and/or assets.
On prospects, the electronics manufacturing services group is optimistic on the growth of its revenue which is in line with the expected growth in demand in 5G mobile phones.
-- BERNAMA
BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; www.bernama.com; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 IFLIX channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies.
Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial
