Life Water (KLSE:LWSABAH) is set to raise 81.9 million from its initial public offering (IPO) on Bursa Securities, according to a Tuesday prospectus filed on the Malaysian bourse.

The security seals manufacturer's IPO entails a public issue of 97.6 million new shares, and an offer for the sale of 28.4 million existing shares at 0.65 ringgit apiece via a private placement.

Proceeds will be used to for business expansion, to boost working capital, and to pay off expenses, it noted.

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