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Malaysian based company, EvoAir Holdings targets to raise up to RM170mil from its uplisting to NASDAQ

Kuala Lumpur: EvoAir Holdings Inc has set a target to raise up to RM170 million (US$40 million) from its uplisting to NASDAQ, scheduled by the fourth quarter (Q4) of next year.

Kevin Chan said the proposed NASDAQ uplisting is one part of EvoAir’s multifaceted strategies to broaden the capital base. The group managing director and also the co-founder said that it is also to build the company into an international player in the heating, ventilation, and air conditioning (HVAC) and environmental, social and governance (ESG) space.

“Out of the proceeds, we will allocate 30 per cent for research and development (R&D), 30 per cent for marketing and 30 per cent for operating expenses.

“The company will utilise the rest for the uplisting exercise,” he told reporters after today’s signing ceremonies between the company and Network 1 Financial Securities Inc and Mercurius Digital Sdn Bhd.

The business, formerly known as Unex Holdings Inc, recently filed a certificate of amendment with the Nevada Secretary of State in order to alter its name from Unex Holdings Inc to EvoAir Holdings Inc,

A strategic collaboration agreement has been reached by Mercurius Digital Sdn Bhd and Evo Air Marketing (M) Sdn Bhd, the marketing division of the soon-to-be EvoAir Group.

The cooperation intends to create and put into action value-creation strategies for Mercurius and the EvoAir Group, including the growth of business and marketing channels into new market niches.

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Reference:

EvoAir Holdings targets to raise up to RM170mil from its uplisting to NASDAQ

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