Seng Fong plans to raise RM68.1mil proceeds from Main Market IPO


KUALA LUMPUR: Rubber processor Seng Fong Holdings Bhd is aiming to raise gross proceeds of about RM68.1mil from its initial public offering (IPO) on the Main Market of Bursa Malaysia, the bulk of which will go towards repaying bank borrowings and working capital.

“Our immediate objectives from the listing are to optimise production by increasing our total annual capacity through the hiring of additional workers for a second working shift and implementing the ESG initiatives to make our business to be more sustainable," said managing director Er Hock Lai in conjunction with the launch of the company's IPO prospectus.

Get 20% OFF The Star Digital Access

Monthly Plan

RM 13.90/month

RM 11.12/month

Billed as RM 11.12 for the 1st month, RM 13.90 thereafter.

Best Value

Annual Plan

RM 12.33/month

RM 9.87/month

Billed as RM 118.40 for the 1st year, RM 148 thereafter.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!
Seng Fong , Main Market , IPO , listing , Er Hock Lai

Next In Business News

Sunway Ipoh Mall 80% leased ahead of 2027 opening
Wall St futures rise as Treasury yields cool, oil slips
Fairness, trust and transparency key to public acceptance of fiscal reforms, says Amir Hamzah
Dialog JV secures Thailand onshore oil, gas concession
ECRL targets mid-December start for commercial operations
Ringgit ends higher vs greenback ahead of Budget 2027
Insights Analytics bags RM14.44mil Suai water treatment plant contract
Willowglen MSC bags RM17.8mil MRT Kajang Line upgrade contract
Johor Port reaching this year's 15 million TEU target
Elridge Energy invests RM45mil in six activated carbon production chains

Others Also Read