UMS Integration (SGX:558, KLSE:UMSINT) signed a placement agreement with CGS International Securities Malaysia and AmInvestment Bank for the placement of up to 52.9 million shares, according to a Tuesday filing with the Singapore Exchange.
The semiconductor equipment manufacturer will issue shares at 8.50 ringgit apiece to raise around 450 million ringgit.
Net proceeds will be used to fund projects in Malaysia, Vietnam and Singapore.
Shares of the company were up over 4% in Wednesday trading.
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