The estimated gross proceeds arising from the Public Issue of approximately RM20.6 million shall accrue entirely to us and will be utilised in the following manner:
|Utilisation of proceeds||Estimated timeframe for (1)utilisation||RM'000||%|
|Capital expenditure||24 months||8,100||39.3|
|Enhancement of revPAY and expansion of IT team||24 months||4,040||19.6|
|Repayment of bank borrowings||3 months||2,500||12.1|
|Business expansion||24 months||1,500||7.3|
|Working capital||24 months||1,773||8.6|
(1) From the date of listing of our Shares.
* Further details of the utilisation of proceeds are set out in Section 4.10 from page 29 to page 32 of Revenue Group Berhad’s Prospectus dated 11 June 2018.