ACE Market bound, EPB Group Berhad launch of its prospectus for the initial public offering with the aim to raise RM40.08 million to support its expansion of its operations in food processing and packaging machinery solutions.
The Group, established in 1992, has built a strong market presence as a comprehensive solutions provider in the design, customisation, fabrication, integration, and automation of production lines for the food processing and packaging machinery solutions segment. The Group also excels in the trading of cellulose casings as well as manufacturing and trading of flexible packaging materials, catering to a wide range of needs in the food manufacturing industry.
The company plans to issue 19,570,000 shares, or 5.26% of the enlarged issued share capital upon listing will be made available for application by the Malaysian public via balloting, of which 50% of this allocation representing 9,785,000 Issue Shares shall be made available to Bumiputera public investors.
The proceeds of RM40.08 million raised from the Public Issue will be earmarked for, factory expansion including the acquisition of land, construction of a new factory, and purchase of machineries to enhance operational capabilities. Repayment of bank borrowings. Strengthening the balance sheet and reducing gearing to further improve financial stability. Working capital purposes. Supporting daily operational needs and ensuring smooth business operations and listing expenses purposes.
Malacca Securities Sdn. Bhd. is the Principal Adviser, Sponsor, Underwriter and Placement Agent, and WYNCORP Advisory Sdn. Bhd. is the Corporate Finance Adviser of EPB Group Berhad.
