MAINBOARD-LISTED BM Mobility is in the process of raising funds for its green energy business in Malaysia, which involves electric scooter sharing, it announced on Wednesday after market close.
BM Mobility said it"is in active discussion with several interested investors" to raise US$500,000 in the form of redeemable notes through its wholly-owned unit BM Mobility Sdn Bhd to fund the expansion of its electric scooter sharing business. The funds will be raised in stages. The company advised shareholders to exercise caution in trading its shares"as the fundraising activity is subject to numerous conditions and there is no certainty or assurance as at the date of this announcement that the fundraising activity will be completed".
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