KUALA LUMPUR: Colform Group Bhd has received the green light from Bursa Securities to list on the ACE Market, with an initial public offering that comprises 114.4 million shares and offer for sale of 54 million shares.
In a statement, the East Malaysia steel and building material specialist said the IPO proceeds will allow it to further enhance its operations by setting up an in-house colour coil coating production line at its Kota Kinabalu facility.
This addition will expand the group’s product range, reducing reliance on external suppliers for colour coated coils and allowing greater quality control.
The group is also planning a new storage facility at the Kota Kinabalu factory, with construction set to begin in early 2025, subject to obtaining the necessary approvals.
This facility aims to improve the logistics and inventory management as Colform scales its operations.
Additionally, Colform is expanding its footprint to Peninsular Malaysia by setting up a new branch office and leasing a factory in Klang.
The group is also investing in an advanced Enterprise Resource Planning (ERP) system to streamline operations across its locations, further enhancing its operational and management efficiencies.
"This listing empowers us to strengthen our commitment to delivering reliable, high-quality steel solutions across Malaysia. Our goal is to build strong and lasting value for our clients through excellence, precision, and innovation.
"From concept to completion, we are excellence, precision, reliability, integrity, and committed in every aspect," said managing director Kang Ket Hung.
Mercury Securities Sdn Bhd is the principal adviser, sponsor, sole underwriter and sole placement agent for Colform.
