KUALA LUMPUR: Binasat Communications Bhd aims to raise RM39.55 million in gross proceeds from the public issue of its initial public offerings (IPO) of 125.38 million ordinary shares of 46 sen each. “About 3.8 per cent of the proceeds will be utilised for regional business expansion, particularly into Vietnam, Myanmar and Laos. “A further 27.3 per cent will be utilised for enhancing the company’s working capital, while the balance of 8.1 per cent will be for defraying estimated listing expanses,” he said in his speech at the launch of the company’s IPO here, today. “Our IPO will open doors for us to enhance the company’s business as well as brand recognition. We believe that upon achieving the listed status, it will create more opportunities for us to engage with a broader field of potential business partners,” he added.

Source: New Strait Times December 13, 2017 08:03 UTC