HI Mobility (KLSE:HI) is set to raise 158.6 million ringgit via its initial public offering on the Main Market of Bursa Malaysia.
The IPO of the bus service operators entails a public issue of 95 million shares and an offer for sale of 35 million shares at 1.22 ringgit apiece, according to a Friday Malaysian bourse filing.
Proceeds will be used for fleet expansion, expansion of EV charging infrastructure, and to boost working capital, it added.
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