Inix to raise funds for ICT venture, acquisition

PETALING JAYA: Inix Technologies Holdings Bhd proposes a private placement exercise to raise up to RM1.95 million to fund the potential foray into the ICT segment, among others.

The group told Bursa Malaysia that the private placement entails the issuance of up to 37.55 million new shares, representing not more than 10% of its enlarged number of issued shares.

Depending on the market conditions and the timing of identification of placees, the private placement may be implemented in one or more tranches within six months from the date of approval from Bursa Malaysia.

Based on the illustrative issue price of 5.2 sen per placement share, the private placement is expected to raise gross proceeds of up to approximately RM1.95 million, of which RM250,000 to be utilised for potential business opportunity.

Inix noted that it is constantly looking for opportunities to expand its current business activities in the ICT segment to diversify its income streams and reduce over-reliance on its existing business activities.

“As part of such efforts, the company had appointed various professionals (such as solicitors, financial advisers, independent market researcher and corporate finance advisers) to conduct due diligence and assessment for a potential acquisition.”

Another RM350,000 will be used as estimated expenses for preliminary works on the proposed acquisition of the entire stake in Aircomaster Sdn Bhd.

The remaining RM1.2 million is for general working capital.