KUALA LUMPUR: Ni Hsin Group Bhd
's wholly-owned subsidiary Ni Hsin EV Tech Sdn Bhd has proposed to conduct an inital exchange offering (IEO) exercise to raise funds for its electric vehicle (EV) business.
In a statement, it said it had entered into an IEO agreement with Pitch Platforms Sdn Bhd for the provision of IEO services to the company with the objective of hosting the company on its licensed IEO platform, PitchIN.
It had also inked a service agreement with Masverse Sdn Bhd for in-depth analysis and design of the tokenomics for the company's utility token for its IEO, pitchIN.
According to Ni Hsin EV Tech managing director Khoo Chee Kong, the company's venture into EV two wheelers has gained traction, and it has made good progress in promoting the transition from ICE two-wheelers to EV two-wheelers.
...