GKE to raise capital with 88 million share placement

Net proceeds will be used for its local and overseas business expansion.

GKE Corporation has proposed the issuance of up to 88 million new ordinary shares in the company for $0.0968 per share.

Excluding estimated expenses, the company expects to raise approximately $8.1m in net proceeds to be used for its local and overseas business expansion.

Assuming the placements are fully subscribed, they will represent about 11.44% of the existing issued and paid-up share capital of the company.

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