Inix Technologies Holdings Bhd intends to further diversify its operations into the gloves business by undertaking a private share offering.
The company will offer 46.66 million new private shares to achieve the desired goal.
According to a statement to Bursa Malaysia, the private share offering will raise gross revenue of up to RM4.48 million based on an illustrative issue price of 9.6 sen per share offered.
The company also plans to diversify its revenue and reduce its reliance on its existing core business amid tougher challenges faced by the information and communications technology segment.
As at 19 July 2021, the issued share capital of Inix is RM64.47 million comprising 466.60 million Inix shares.
According to Inix, the diversification proposals to be implemented include the manufacturing, marketing and trading of gloves.
Each proceeds will be used to further expand the gloves business worth RM4.249 million over a period of eight months and the balance will be used for the proposed expenditure.
The group also has plans to manufacture latex gloves for domestic use as a start and will explore other types of gloves or other export markets in the future.
