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buy apple developer account:HWGB plans RM34.6mil private placement


KUALA LUMPUR: Ho Wah Genting Bhdusiness/marketwatch/stocks/?qcounter=GENTING' target='_blank'>Genting Bhd is planning to raise up to RM34.58mil by placing out new shares in the company to investors. Proceeds from the proposed private placement will be used to expand its healthcare business, repay short-term advances provided by Hong Kong-based Prime King Investment Ltd (RM10mil) and as general working capital. "The Board is of the opinion that the Proposed Private Placement is expected to help improve the financial performance of the Group moving forward," it said in a filing with Bursa Malaysia today. Under the fund raising scheme, HWGB plans to issue up to 60.67 million new shares to new investors, at an assumed issue price of 57 sen a share. The wire and cable maker has recently ventured into the healthcare-related business. HWGB said today that it will allocate RM12mil for its new business, including RM6mil for the purchase of healthcare products and another RM6mil for research and development. This is the company's second fund raising exercise in less than a year. In April, HWGB had raised RM4.23mil in a similar fund raising exercise involving the issuance of 45.97 million new shares at 9.2 sen

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