PETALING JAYA: HSS Holdings Bhd is eyeing a listing on the ACE Market of Bursa Malaysia.
The company is principally involved in the sourcing of bakery products, trading of bakery and other products and manufacturing of bakery products.
In its prospectus exposure, released today, the company said its initial public offering (IPO) will entail the public issue of 75 million new ordinary shares.
M & A Securities Sdn Bhd is the sponsor of the company’s IPO.
The company said proceeds from the IPO will be used for capital expenditure for two manufacturing facilities, repayment of bank borrowings, working capital and listing expenses.
“We intend to purchase new machinery and equipment for our manufacturing facility 1 and manufacturing facility 2.
At manufacturing facility 1, we intend to install a new biscuit production line to replace our existing biscuit production line; purchase machinery and equipment for our existing cookies production line; and purchase machinery and equipment to further automate the back-end stages of both our biscuit and cookies production.”
For the second manufacturing facility 2, the company said it intends to install a new automated cake production line, with the addition of a fully automatic suction demoulding machine that can also be used for our existing cake production line.
