BAYAN LEPAS: ACE Market-bound Emits Bhd, an antenna manufacturing service provider, aims to raise RM15 million in its initial public offering (IPO) at an issue price of RM0.16 per share.
Of the total proceeds raised, the group will allocate RM6.8 million (45.3%) to working capital, comprising RM6 million to support new projects, particularly the group’s 5G base station antenna project, and RM0.8 million for general working capital requirements.
A further RM4 million (26.7% of total) will be used to purchase machinery and equipment for the group’s research and development (R&D) activities, including prototyping and design machines.
The balance RM4.2 million (28% of total) will be utilised to defray listing expenses.
