KLSE:SLG

SLGC Eyes MYR29 Million via ACE-Market IPO

SLGC (KLSE:SLG) seeks to raise 29.4 million ringgit via an initial public offering on the ACE Market of Bursa Malaysia, according to its Thursday prospectus.The construction company's IPO comprises a public issue of 105 million new shares at an issue price of 0.28 ringgit per share, as well as an offer for sale of 63 million shares.Net proceeds, after listing expenses, will be used for machinery purchases, debt repayment and working capital. Applications open Sept. 10 and close Sept. 22, the prospectus showed.