Malaysia's Serba Dinamik Holdings is looking to raise up to 232.9 million ringgit ($53.45 million) by selling new shares to reduce gearing and for general working capital requirements, according to a term sheet seen by Reuters.

The firm, which provides engineering solutions for the oil and gas and power generation industries, is offering more than 153 million new shares, equivalent to 5% of its existing outstanding shares, priced at a discount between 1.49-1.52 ringgit per share.

If private placement is for growth purposes , in this case, it is for project funding then is a positive news. With this fund raising in place, it also gave a clearer picture that the project is REAL and not announcing purely to push sentiment sake. just my two cents .