SBH Marine aims to raise RM39.6mil in proceeds from IPO for business expansion

From left: SBH Marine alternate director Tan Yok Jin, executive director Saw Leng Hean, deputy managing director Tan Yuak Kwang, deputy managing director Tan Yuak Ming, independent non-executive chairman Mohd Salim Dulatti, group managing director Tan Boo Nam, KAF Investment Bank CEO Rohaizad Ismail, deputy CEO Thariq Ahmad and WYNCORP Advisory managing director Wong Yoke Nyen

KUALA LUMPUR: SBH Marine Holdings Bhd will raise gross proceeds of RM39.6mil from its initial public offering (IPO), with the lion's share going towards business expansion.

In a statement, the processor and exporter of frozen seafood products, en route to a listing on the ACE Market of Bursa Malaysia on April 8, 2024, said it would utilise RM16mil of the proceeds to further develop its aquaculture shrimp farm in Selinsing, Perak, and spend RM6.5mil to construct a second seafood processing plant in Kuala Krau in Perak.