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apple developer:LKL to place out 85.7m new shares to raise RM45m

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LKL said it plans to buy two three-storey semi-detached factory buildings to be used as, among others, manufacturing and assembly of medical/healthcare beds, peripherals and accessories, production office as well as warehouse for finished goods. KUALA LUMPUR: LKL International Bhd plans to place out 85.76 million new shares tp raise up to RM45.45mil for its capital expenditure (capex), expansion and to repay borrowings. In a statement to Bursa Malaysia on Friday, it said the 85.76 million new shares would represent not more than 20% of its issued shares, at 53 sen each. LKL added the shares would be placed out to parties to be identified at a later date. It plans to use RM26.50mil for capex and expansion, RM6mil for future investments or projects; RM5.59mil to repay bank borrowing; RM6.36mil for working capital and the remaining RM1mil for estimated expenses in relation to the proposals. Of the RM26.50mil for capes, it said RM20.50mil would be to buy two factory buildings, RM2mil to expand its current factory building and the remaining RM4mil for purchase of machinery. LKL said it plans to buy two three-storey semi-detached factory buildings to be used as, among others, manufacturing and assembly of medical/healthcare beds, peripherals and accessories, production office as well as warehouse for finished goods. The new buildings are expected to be about 40,500 square feet (sq ft) in size. It plans to acquire the new buildings in Seri Kembangan, which is near it current head office and factories.,

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