KUALA LUMPUR (Feb 8): Rhone Ma Holdings Bhd plans to undertake a private placement of 10% of its issued shares to raise between RM13.45 million and RM18.84 million to fund the setting up of a milk processing plant and for working capital purposes. Rhone Ma hopes to use RM7.5 million of the proceeds to build the plant with a capacity of 14.4 million litres per year in Kapar, Selangor by the third quarter of 2025. Rhone Ma will use another RM2.5 million of the proceeds for marketing expenses, while the balance will go towards working capital. The animal-health specialist plans to issue between 20.08 million and 28.12 million placement shares at an indicative price of 67 sen per share. The group has warrants expiring on Feb 4, 2026 with a conversion price of 70 sen per share.

Source: The Edge Markets February 08, 2022 23:36 UTC