It aims to acquire more data centres.
Mainboard-listed Armarda Group yesterday revealed the proposed placement of 2.1 billion new shares at $0.005 per share in a bid to raise $10.6 million.
The placement shares represent 40.26% of the company’s existing issued share capital and 28.7% of its enlarged share base.
The funds will be used mainly for acquisitions of more data centres.
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