KUALA LUMPUR: Life Water Bhd aims to raise RM63.42 million for its initial public offering (IPO), priced at 65 sen per share.
This is in conjunction with its proposed listing on the Main Market of Bursa Malaysia which is scheduled on Nov 13.
In a statement today, the beverage manufacturer said the IPO includes a public issue of 97.56 million new shares and an offer for sale of 28.39 million existing shares to selected investors through private placement, collectively offering investors a 26.62 per cent stake in the company.
The company plans to allocate RM19 million for a new drinking water manufacturing line at its Sandakan Sibuga Plant 1 and RM12 million for a similar line at Plant 2.
Source: New Straits Time