KUALA LUMPUR: HLT Global Bhd has proposed a private placement of 20 per cent of its issued shares to partly finance a brand new glove-dipping plant and set up of latest traces.
It is estimating a proceed of up to RM76.84 million from the train, of which RM15 million will probably be put aside for the development of a RM50 million plant in Semenyih, Selangor and about RM42.5 million for set up of 4 to 5 double-former traces.
Upon commissioning of the brand new traces, HLT’s glove capacity production is predicted to enhance between 2.24 and a couple of.55 billion items from the present 1.0 billion, it stated in a submitting with Bursa Malaysia at the moment.
HLT stated the proposed private placement might entail up to between 141.48 million and 163.49 million shares, which characterize roughly 20 per cent of its whole 817.44 million variety of issued shares.
The train will probably be applied in tranches and at completely different difficulty costs to allow every tranche to be decided on the related value fixing dates. – Bernama
