Bird's nest processor MYMBN to raise RM20.58mil from IPO

From left: MYMBN non-independent non-executive director Lee Wei Kong, non-independent executive director and CEO Lavernt Chen Vun Wo, non-independent non-executive chairman Liw Chong Liong, Mercury Securities managing director Chew Sing Guan and co-head of corporate finance Eric Chong Soo Keng

MELAKA: Bird’s nest processor Mymbn Bhd plans to raise RM20.58 million through the public issue of 98.0 million new ordinary shares at the initial public offering (IPO) price of 21 sen per share en route to its listing on Bursa Malaysia’s ACE Market on July 25, 2023.

Its executive director and chief executive officer (CEO), Lavernt Chen, said RM8.05 million or 43.41 per cent of the proceeds would be utilised for business expansion.