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Saturday, 6 May 2017

(The Star) Inta Bina to raise RM26.76mil from IPO

KUALA LUMPUR: Construction firm Inta Bina Group Bhd, which is en route to a listing on the Ace Market on May 25, aims to raise RM26.76mil from its initial public offering (IPO) exercise.

Managing director Paul Lim said that out of the total proceeds, RM5mil would be used to invest in the Industrialised Building System (IBS) and various machinery, RM9mil to pay bank borrowings, RM9.56mil for general capital requirements and the remaining RM3.2mil to defray listing expenses.

He added that the group planned to enter the affordable housing segment efficiently through the usage of aluminium system formwork under the IBS.

“We believe that the usage of aluminium system formwork is best suited for affordable housing projects and will improve our cost competitiveness in the long run,” he told reporters after the launch of the group”s prospectus here yesterday. – Bernama