Zantat to raise proceeds of RM14mil from IPO for R&D, upgrades

From left: M&A Securities head of corporate finance Gary Ting, M&A Equity Holdings Bhd managing director Datuk Bill Tan, Zantat deputy chairman Chan Hup Ooi, managing director Ivan Chan, chairman Yap Yoong Kong and executive director Chan Jee Chet

KUALA LUMPUR: Zantat Holdings Bhd aims to raise RM14mil from its initial public offering (IPO) en route to a listing on the ACE Market of Bursa Malaysia on March 27, 2024.

The high-grade calcium carbonate powder producer said in a statement it plans to use RM3.8mil of the proceeds to upgrade its research and development (R&D) centre and purchase additional test and product development equipment.