corporate

Aurelius Technologies fixes issue price for private placement at RM3.35 a share

KUALA LUMPUR: Aurelius Technologies Bhd has fixed the issue price for its proposed private placement of up to 39.41 million shares at RM3.35 per share.

In a filing to Bursa Malaysia today, the company said this follows the completion of a bookbuilding exercise.

It added that the price represents a 4.2 per cent discount to the five-day volume-weighted average price (VWAP) of RM3.4965 per share as of June 5, 2024.

"Accordingly, the private placement is expected to raise a gross proceeds of approximately RM132.01 million," the company noted. 

Aurelius Technologies said the funds raised will mainly be used to construct a new manufacturing facility in Kulim Hi-Tech Park in Kedah.

Maybank IB acted as the placement agent for the private placement.

Trading of Aurelius Technologies was suspended from 9am on Thursday and will resume at 10am.

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