Dagang NeXchange Berhad (KLSE:DNEX) has proposed a private placement of up to 10% of its total number of issued shares to third-party investors to be identified and determined later. In a filing with Bursa Malaysia, it said based on the indicative issue price of 41.5 sen per placement share, the proposed private placement is expected to raise gross proceeds of up to MYR 133.44 million under the maximum scenario. It said the proceeds are intended for the expansion of the company?s energy segment (MYR 133.33 million) and estimated expenses of the exercise (MYR 100,000).

It added that the company has not undertaken any other fundraising exercises in the past 12 months prior to this date.