PETALING JAYA: Main Market-bound Dolphin International Bhd (DIB) will issue 46 million new shares for its initial public offering (IPO), representing 20.72% of its enlarged issued and paid-up capital.
Of the public issue shares, 15 million would be made available to the public while another 8.25 million were for directors and employees, said the company in its prospectus exposure on the Securities Commission’s website.
DIB, which offers innovative turnkey systems and solutions to the palm oil industry, said the remaining 22.75 million shares would be made available to selected investors.
The bulk of the proceeds, or 39.86%, would be utilised for expansion of facilities while the remainder would be for working capital, expansion of its research and development facility, repayment of bank borrowings and listing expenses.
DIB did not state the IPO price in its prospectus exposure or the tentative listing date of its IPO.
Hong Leong Investment Bank is the company’s principal adviser, underwriter and placement agent for the proposed listing.
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