Spring Art to raise RM24.4m from listing on ACE Market

From left are Gary Ting, head of corporate finance of M&A Securities Sdn Bhd; Christine Teo, chief financial officer of Spring Art Holdings Bhd; Yvonne Kwan, executive director of Spring Art; Jack Lim, managing director of Spring Art and Datuk Bill Tan, managing director of corporate finance of M&A Securities.

KUALA LUMPUR: Ready-to-assemble furniture products designer and manufacturer Spring Art Holdings Berhad expects to raise RM24.42mil as it seeks to list on the ACE Market of Bursa Malaysia Securities.

The company plans to use RM17.55mil (71.9%) raised from the initial public offering to purchase machinery for two more production lines for its new factory, Factory C.