YB Ventures plan private placement to raise to RM145.9m

Tiles manufacturer and information technology (IT) company YB Ventures Bhd Sdn has proposed to offer a private placement of up to 20% of its total number of issued shares to raise between RM21.1 million and RM145.9 million. On the 11th of October 2021, filing with Bursa Malaysia, the company said that the proposed private placement would be used to install a rooftop solar photovoltaic (PV) system at its factory building and warehouse in Kulai, Johor Bahru, future viable investments, and working capital. A private placement is expected to be placed to third-party investors at an issue price at a later date. According to the group, the placement shares would be issued at a price of not more than 10% discount to the five-day volume-weighted average market price (VWAP) of YB Ventures shares immediately preceding the price-fixing date.