PETALING JAYA: Bina Puri Holdings Bhd has proposed to undertake a private placement to raise up to RM7.74mil to finance its working capital.

       The construction company said the exercise would involve up to 10% of its total number of issued shares, or 143.11 million shares that would be issued to independent third-party investors to be identified later and at an issue price to be determined later

       Based on an illustrative issue price of 5.41 sen per placement share, the exercise is expected to raise RM7.74mil, the bulk of which would be used for working capital.