DATAPREP Holdings Bhd has announced a proposal for a private placement of up to 226.7 million new shares, representing 30% of its total issued shares, to raise up to RM30.2 million.

The funds will be used for secured project costs (15 million), working capital (10 million), and repaying borrowings (RM4.4 million).

As of the latest data, Dataprep has an unbilled order book of approximately RM16.8 million across 37 ongoing projects.

Additionally, the company is proposing a capital reduction of up to RM100 million to reduce its accumulated losses of approximately RM99.7 million and improve its financial health.

The moves aim to strengthen Dataprep’s capital base and support its growth initiatives.

Barring any unforeseen circumstances and subject to the approval of all relevant authorities, the proposals are expected to be completed by the second quarter of 2025. — TMR