MCE (KLSE:MCEHLDG) proposed a private placement of up to 10% of its issued shares, according to a Tuesday Malaysian bourse filing.
The manufacturer of anti-theft and keyless entry systems will determine the issue price at a later date, it noted.
Proceeds will be used for capital expenditure, to partially finance the construction of a new manufacturing factory, and to pay off expenses
Shares dropped over 2% recently.
Price (MYR): $1.58, Change: $-0.040, Percent Change: -2.47%
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