PETALING JAYA: Three companies, HSS Holdings Bhd, Wintech Metal Bhd and Enest Group Bhd
, have announced their intention to list on the ACE Market of Bursa Malaysia.
The companies revealed their plans to list on the stock market via their respective prospectus exposures yesterday.
HSS Holdings is principally involved in the sourcing of bakery products, trading of bakery and other products and manufacturing of bakery products.
In its prospectus exposure, 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 one and manufacturing facility two.
“At manufacturing facility one, 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, 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 its existing cake production line.
Meanwhile, Wintech Metal is principally involved in the manufacture of metal parts and furniture, as well as portable work pods.
In its prospectus exposure, the company said its IPO would entail the public issue of 132.49 million new ordinary shares.
Public Investment Bank Bhd is the sponsor of the company’s IPO.
The company said proceeds from the IPO will be used for the purchase of machines and equipment, marketing expenses, working capital, repayment of bank borrowings and listing expenses.
“Our manufacturing facility, located in Banting Plant 1, is equipped with a comprehensive range of machines and equipment to perform key metalworking and surface finishing processes.
“These include automated cutting machines, automated and semi-automated bending machines, manual and automated welding machines, manual metal stamping machines, automated punching machines and assembly operations, which are essential in the production of our metal furniture and related products.”
Additionally, Wintech said the manufacturing facility houses a powder coating line, which allows it to carry out in-house surface finishing to meet aesthetic and durability standards.
Enest Group, meanwhile, is principally involved in the processing and sale of raw cleaned edible bird’s nest, trading of raw uncleaned bird’s nest, and the sale of processed bird’s nest products.
In its prospectus exposure, the company said its IPO will entail the public issue of 116.25 million new ordinary shares. M&A Securities Sdn Bhd is the sponsor of the company’s IPO.
It said proceeds from the IPO will be used for the repayment of bank borrowings, working capital and listing expenses.
“Our largest business segment is our bird’s nest segment, contributing 96%, 98.8% and 98.5% of our group’s total revenue for the financial years 2022 to 2024.”
