Prolexus Berhad (KLSE:PRLEXUS) may look for acquisitions. Prolexus has unveiled plans to raise funds through a renounceable rights issue, aiming to secure MYR 102.58 million in capital. The proceeds from this capital-raising endeavor are allocated to diverse objectives.

A significant portion, up to MYR 10 million, is designated for the installation of rooftop solar photovoltaic (PV) systems. Aligned with the company's commitment to sustainability, these systems aim to reduce costs while embracing environmentally conscious practices. Additionally, a share of approximately MYR 5.43 million is earmarked to address working capital needs within the upcoming 24 months. The strategy further includes the repayment of existing bank borrowings, with an allocation of up to MYR 42.6 million, anticipated within a year.

Furthermore, the funds may be directed towards acquisitions and investments in complementary businesses, with a potential allocation of up to MYR 15 million.