Yew Lee Pacific makes market debut at 28.5 sen

The group raised RM37.27mil through its IPO, which will mainly be utilised for the purchase of machinery and equipment at RM10.9mil, the repayment of bank borrowings at RM8.9mil, and the construction of new warehouse facilities and office buildings in Pusing, Perak amounting to RM7.3mil.

PETALING JAYA: Brush manufacturer Yew Lee Pacific Group Bhd (YLPG) made its debut on the ACE Market of Bursa Malaysia yesterday, opening at 28.5 sen per share, above its initial public offering (IPO) price of 28 sen per share.

YLPG chairman Mahdzir Othman remarked that he was grateful to investors, customers and suppliers who had supported the company since its inception in 2004 as an industrial brush manufacturer and the positive response to its listing.