KUALA LUMPUR: Plastic manufacturer Polymer Link Holdings Bhd
has received approval-in-principle from Bursa Malaysia Securities to list on the ACE Market of Bursa Malaysia.
The group - operating through subsidiaries in Malaysia, the Philippines, India, Australia and the US - specialises in the formulation, compounding and grinding of plastic powder for general and speciality applications, as well as the production of colour masterbatch.
It operates three manufacturing facilities strategically located in Selangor, Pampanga in the Philippines and Daman in India, and has established overseas sales offices in Australia and the US to support its diverse customer portfolio in the region.
For the financial year ended Sept 30, 2024, the group recorded total revenue of about RM145.4mil, mainly contributed by its key markets in the Philippines, India, Australia and Malaysia, which accounted for 42.3%, 25.9%, 13.6% and 7.5% of total revenue respectively.
"We are truly honoured to receive Bursa Malaysia’s approval-in-principle for our listing on the ACE Market of Bursa Malaysia," said Polymer Link president and group CEO Koh Hong Seng in a statement.
"The IPO proceeds will be channelled towards the expansion of our physical footprint in Australia, the acquisition of new manufacturing line in Malaysia to support our regional expansion, as well as investments into working capital to expand sales to customers in Poland. These strategic initiatives are critical to supporting our next phase of scale-up and customer delivery.”
Polymer Link’s IPO will involve a public issue of 97.15 million new shares, alongside an offer for sale of 24.08 million existing shares. The total 121.23 million shares represent about 21.6% of the enlarged share capital of 560 million ordinary shares.
