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(From Bernama The Malaysian National News Agency)
KUALA LUMPUR, Jan 28 (Bernama) -- Satang Jaya Holdings Bhd, which is enroute for a second board listing, plans to raise RM24 million from its initial public offering (IPO) exercise, its executive chairman cum managing director Jamaluddin Hassan said.
He said that of the proceeds RM13 million will be used for working capital, RM8 million for purchasing land and construction and the balance for repaying bank loans.
He was speaking to reporters after the company's underwriting ceremony here today. The company is expected to be listed in March 2005.
On its future plan, Jamaluddin said that the …