KUALA LUMPUR, July 31 — Main Market-listed tech firm Turiya Berhad (TURIYA, 4359) is proposing a private placement of up to 10% of its total issued shares to independent third-party investors, aimed at raising up to RM5.032 million to fund the upgrade and makeover of its flagship Chase Perdana building.
According to a Bursa Malaysia filing, the board of directors proposes issuing up to 22.87 million new ordinary shares. Upon completion of the placement exercise, the group’s enlarged share capital will expand to 251.60 million shares.
Based on an indicative issue price of 22 sen per share—a 2.70% discount to its five-day volume-weighted average market price of 22.61 sen—the bulk of the raised funds will go directly into real estate enhancement. The group has allocated RM3.50 million to renovate the Chase Perdana building located in Damansara Heights, Kuala Lumpur.
The remaining proceeds will be distributed across financial obligations and operations, with RM1.08 million set aside for servicing existing bank loans, RM292,000 earmarked for general working capital, and RM160,000 reserved to cover expenses related to the exercise.
Turiya expects to complete the corporate exercise within the fourth quarter of 2026.
–NMT
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