ACE Market-bound Sin-Kung targets RM26mil in proceeds from IPO

From left: Sin-Kung Logistics executive director Adeline Ong, executive director Angeline Ong, chairwoman Tan Soo Mooi, managing director Alan Ong, M&A Equity Holding Bhd managing director Datuk Bill Tan, M&A Securities head of corporate finance Gary Ting and Sin-Kung general manager Ameline Ong

KUALA LUMPUR: Sin-Kung Logistics Bhd aims to raise RM26mil from its initial public offering (IPO) en route to a listing on the ACE Market of Bursa Malaysia.

In a statement, the integrated logistics service provider said it will utilise RM10mil of the IPO proceeds to fund its warehousing and distribution services’ expansion to meet the future rising demand from manufacturing and e-commerce sectors.