Borsig IPO to alleviate KNM’s financial woes

Borsig CEO Stegger said Borsig has been recognised as the most valuable asset within KNM Group.

PETALING JAYA: The initial public offering (IPO) exercise of machinery and equipment unit Borsig GmbH on the Singapore Exchange (SGX) should uplift KNM Group Bhd by aiding its repayments to creditors, says Borsig chief executive officer (CEO) Jurgen Stegger.

In a statement yesterday, he highlighted that Borsig has continued to shine as a valuable asset within the KNM Group, with an attractive market valuation exceeding �300mil (RM1.5bil), which itself far exceeded the parent group’s own market capitalisation of RM445mil.