Malaysian textile equipment maker plans rights issue
21 Jan '12
1 min read
GPRO Technologies Bhd, Asia's leading provider of lean solutions for the textile and apparel industry, is planning to issue up to 253,994,100 rights shares and an equal number of warrants at an issue price of 10 Malaysian ringgits per share.
The Malaysian company said funds raised through the rights issue will be utilized to increase cash flows and to meet its working capital requirements, which includes capital needed to sustain the current business and to invest in any viable project in future.
For more than a decade, GPRO's award-winning innovations and solutions have redefined how textile and apparel companies work on the shop floor, especially by setting new standards for productivity data collection anywhere and anytime.
Equipments manufactured by GPRO Technologies have been sold and used in textile and apparel producing countries in Asia, including Vietnam, Indonesia, China, Bangladesh and Malaysia.
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