Cuscapi targets RM4.72mil private placement
KUALA LUMPUR: Cuscapi Bhd plans to raise up to RM4.72 million through a private placement of as many as 94.49 million new shares, representing 10 per cent of its enlarged issued share base.
KUALA LUMPUR: Cuscapi Bhd intends to raise up to RM4.72 million through a private placement of new shares, comprising 10% of its enlarged issued share base. This follows another company linked to businessman Wong Thean Soon announcing a similar private placement this week. The funds raised will be allocated towards working capital and a software project.
Wong's stake in Cuscapi has decreased to 2.5% after he sold nearly 11% of his interest. The new shares will be offered to unidentified third-party investors and the issue price will be determined depending on market conditions. Bursa Malaysia's approval for listing and quotation is required for the issuance, expected in the first quarter of 2027.
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