KUALA LUMPUR (June 6): Aurelius Technologies Bhd (KL:ATECH) has fixed the issue price at RM3.35 per share for its proposed private placement plan of up to 39.41 million shares.

In a bourse filing on Thursday, the company said the placement is expected to raise gross proceeds of approximately RM132.01 million.

The company in May had said the placement was expected to raise RM123.34 million based on an illustrative issue price of RM3.13 per share.

The electronics manufacturing service provider said the proceeds are mainly to build a new manufacturing plant in the Kulim Hi-Tech Park in Kedah.

A total of RM55 million of the gross proceeds will be used for the construction of the new integrated manufacturing plant spanning 243,977 sq ft, followed by RM20.18 million for working capital and RM20 million for new machinery and equipment, the group said.

Another RM15.40 million will go towards the repayment of bank facilities, RM11.5 million for investment in strategic new vacant land and the remaining RM1.27 million for defraying the placement’s expenses.

Maybank Investment Bank has been appointed as the principal adviser and placement agent for the private placement, which is expected to be completed in the second quarter of 2024.

Trading of the securities of Aurelius was halted from 9am on Thursday, and will resume at 10am.