In a statement today, Yenher said its initial public offering (IPO) exercise would comprise a public issue of 64.431 million new shares of which 15 million shares would be made available for application by the Malaysian public.
It said another 15 million shares would be made available for application by the eligible directors, employees and persons who have contributed to the success of the group and 34.431 million shares would be made available for application by Bumiputera investors.
"The IPO also comprises an offer for sale of up to 41.757 million existing shares where 3.069 million shares would be made available for application by Bumiputera investors while the remaining 38.688 million shares by other institutional and selected investors,” it said.
It said the 106.188 million ordinary shares in total represented 35.40 per cent of the enlarged issued share capital of the company upon listing.
Yenher said the proceeds from the IPO exercise would substantially be earmarked for the construction of a new GMP-compliant manufacturing plant in order to increase its production capacity for its manufactured products, purchase of new machinery and equipment and for the company’s working capital.
"The SC’s approval is a significant milestone in Yenher’s journey to become a listed entity.
"We are optimistic that our expansion will go hand in hand with the listing, enhancing our financial position and our corporate profile, in line with our objective of becoming a one-stop solution provider to our customers by offering them a wide range of animal health and nutrition products coupled with our value-added services for their livestock,” group managing director Cheng Mooh Tat said.
Yenher is principally involved in the manufacturing and distribution of animal health and nutrition products.
RHB Investment Bank Bhd is the sole principal adviser, underwriter and placement agent for Yenher’s IPO and listing. - Bernama