PETALING JAYA: Heitech Padu Bhd is proposing a private placement of 10.12 million new ordinary shares to raise gross proceeds of RM22.98mil for working capital purposes.

       In a filing with Bursa Malaysia, the company said the issuance of new ordinary shares represents 10% of the total number of issued shares of the company.

       It said the placement shares will be placed to third-party investors to be identified later.