PETALING JAYA: MyEG Services Bhd (MyEG) has proposed to undertake a private placement to raise up to RM309mil for the development of blockchain products and services; healthcare-related services and technology; and automated driving tests and training systems and the purchase of hardware.

       In its filing with Bursa Malaysia, the company said the proposed exercise would entail a placement of up to 4.17% of its total number of issued shares to third party investors that would be identified later at an issue price to be determined later.

       As of the latest practicable date, the total issued share of MyEG was valued at RM664.24mil comprising 7.38 billion shares, including 182 million treasury shares.

       Based on an illustrative issue price of RM1.03 per placement share, the proposed exercise is expected to raise gross proceeds of up to about RM309mil.

       MyEG’s shares closed one sen lower at RM1.05 on Monday.