KUALA LUMPUR: Dagang Nexchange Bhd (DNeX) has proposed a private placement of up to 10 per cent of its total number of issued shares to third-party investors to be identified and determined later.

In a filing with Bursa Malaysia, it said based on the indicative issue price of 41.5 sen per placement share, the proposed private placement is expected to raise gross proceeds of up to RM133.44 million under the maximum scenario.

It said the proceeds are intended for the expansion of the company’s energy segment (RM133.33 million) and estimated expenses of the exercise (RM100,000).

It added that the company has not undertaken any other fundraising exercises in the past 12 months prior to this date. – Bernama