KUALA LUMPUR (Feb 2): Vizione Holdings Bhd, formerly known as Astral Supreme Bhd, said it has raised gross proceeds of RM58.29 million from the its two-for-one rights issue with free attached warrants.

“Given the funding, Vizione is set to secure more construction projects to enhance its future earnings,” said the construction outfit and property developer in a statement.

Vizione said it secured a final subscription level of 99.84%, equivalent to 582.92 million rights shares.

Vizione group managing director Datuk Ng Aun Hooi said the company is eager to work on improving its fundamentals and enhancing its shareholders’ value for the long term.

“The funds raised reflect shareholders’ confidence, trust and support of the management team. These funds will be utilised to continue the company’s commitment to profitability and growth,” said Ng.

The bulk of the proceeds will be used to fund future construction activities, to fund future property development activities, for expenses in relation to the corporate exercises, and towards working capital, said Vizione in its rights issue circular. — theedgemarkets.com

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