Agricore CS Holdings Berhad debuts on the ACE Market with a 58% premium rising to 79 sen for its opening.
The company had successfully raised RM25.9 million in its initial public offering exercise mainly to purchase inventory amounting to RM18.9 million to support its business growth.
Of the proceeds, RM2.7 million will be allocated to expand storage capacity by setting up new regional storage facility in Klang, Selangor to enhance the efficiency of its business operations and increase market presence in the food ingredients industry.
A sum of RM0.6 million will be allocated to recruit additional staff in Bukit Minyak Premises followed by RM3.7 million for the estimated listing expenses. Based on the enlarged share capital of 202.8 million shares, Agricore is expected to
have a market capitalisation of RM101.4 million after listing.
