EPB Group gets approval for ACE Market IPO

EPB Group Bhd managing director Yeoh Chee Min

KUALA LUMPUR: EPB Group Bhd has received approval from Bursa Malaysia Securities Bhd to list on the ACE Market of Bursa Securities.

The listing exercise is set to offer a total of 111.57 million initial public offering (IPO) shares, representing approximately 29.99% of the enlarged issued share capital upon the listing of 372 million ordinary shares, in the upcoming IPO of the group.

EPB is a one-stop food processing and packaging machinery solutions provider.

According to EPB’s prospectus exposure for the IPO, the listing exercise involves the public issue of 71.57 million new ordinary shares, or 19.24% of the enlarged issued share capital upon listing with an offer for sale of 40 million ordinary shares, or 10.75% of the enlarged issued share capital upon listing.

"The IPO serves as a gateway to the capital markets, providing us with the necessary resources to fuel our next phase of growth and innovation, particularly in the realm of robotics integration in the food processing and packaging machinery solutions currently provided to our customers,” managing director Yeoh Chee Min said in a statement.

"The capital raised through this IPO will be instrumental in realising our expansion plans, including the expansion of our existing factory. This expansion is not just about scaling our operations; it's about strategically positioning our group to capture emerging opportunities in the market, thereby reducing our gearing and bolstering our working capital.

“Our aim is to cement our group’s status as a frontrunner in providing comprehensive food processing and packaging solutions, driving forward our commitment to excellence and innovation in the industry,” he said.

Malacca Securities Sdn Bhd is the principal adviser, sponsor, underwriter and placement agent, and WYNCORP Advisory Sdn Bhd is the corporate finance adviser of EPB.