KUALA LUMPUR: Construction firm Inta Bina Group Bhd, which has been in Malaysia’s construction industry for over 25 years, is planning to offer 107.05 million of its shares of 10 sen each in its initial public offering to list on Bursa Malaysia’s ACE Market. Proceeds from the public issue are expected to be utilised for capital expenditure, repayment of bank borrowings, general working capital and estimated listing expenses, though Inta Bina did not reveal the breakdown. Inta Bina will allocate 26.76 million shares to the Malaysian public via balloting; half of that will be for bumiputera investors. Meanwhile, 20.01 million shares will be reserved for eligible directors, employees and business associates or persons who have contributed to the group, while 53.53 million shares will be for private placement to selected bumiputera investors. The remaining 6.75 million shares are for private placement to selected investors.

Source: The Edge Markets September 15, 2016 02:26 UTC