KUALA LUMPUR: Aluminium products manufacturer Winstar Capital Bhd, enroute to a listing on Bursa Malaysia’s ACE Market on Dec 19, aims to raise RM19.79mil through its initial public offering (IPO).
The company noted that the IPO is priced at 35 sen per share and involves the issuance of 73.95 million shares, comprising 56.55 million new shares and 17.40 million existing shares offered for sale, representing 25.5% of the company’s enlarged issued share capital of 290 million shares.
The company said that of the proceeds, RM9.55mil (48.25%) will be used to purchase new aluminium extrusion press machinery and equipment, RM6.24mil (31.54%) for working capital requirements, and RM4mil (20.21%) for listing expenses.
“Of the 56.55 million new shares, 14.50 million will be available for application by the Malaysian public, while 15.95 million are reserved for eligible directors, employees, and contributors to the group’s success.
“The remaining 26.10 million new shares will be offered through a private placement to selected investors,” the company said. — Bernama
