AP Rentals Nears Full IPO Proceeds Utilization

AP Rentals Holdings Ltd. (HK:1496) has released an update.

AP Rentals Holdings Limited has nearly exhausted the funds raised from its IPO, with 99.3% of the proceeds utilized and an update on the expected timeline for using the remaining 0.7%. The funds have been allocated as outlined in the company’s prospectus, with the majority spent on rental equipment investments, GPS system development, and transportation equipment. The company now anticipates an extended timeline to complete the improvements on its maintenance facility by March 2025.

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