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S&F Capital Bhd has proposed a private placement of up to 181.62 million new shares, or 30% of its issued share capital, to raise approximately RM12.22 million.
The placement shares are priced at 6.73 sen each and are subject to shareholder approval at an upcoming EGM.
The proceeds will primarily go towards settling the remaining purchase price and expenses related to the acquisition of a factory in Pekan HICOM, Shah Alam.
A total of RM12 million has been earmarked for this, while RM223,000 will be used to cover placement-related expenses.
The proposed placement will involve the issuance of shares to major shareholder Rengit Capital Sdn Bhd, which has committed to subscribe for up to 86.6 million shares, as well as to third-party investors.
S&F Capital, which returned to profitability in FY2023 after several years of losses, posted a net profit of RM1.32 million in FY2024.
The group said the proposed placement would give it greater financial flexibility without relying on borrowings, while supporting its ongoing growth plans in construction and property development.
Barring any unforeseen delays, the exercise is expected to be completed by the fourth quarter of 2025. — TMR
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