KUALA LUMPUR (June 22): ACE Market-bound homegrown human capital management (HCM) solutions and technology provider Ramssol Group Bhd aims to raise RM25.1 million from its initial public offering (IPO) on Bursa Malaysia on July 13, 2021 to partly fund its regional business expansion.
Ramssol said of the RM25.1 million proceeds, about RM2.5 million would be utilised for business expansion into the Philippines.
“RM6.3 million will be allocated for the expansion of Feet’s (an in-house employee engagement mobile application) as well as that of third-party collaboration platform, Lark, in Southeast Asia.
“While RM4.1 million will be utilised for research and development (R&D) expenditure, RM7.6 million for working capital and the remaining RM4.6 million for listing expenses,” it said in a statement issued in conjunction with its virtual prospectus launch today.
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