PETALING JAYA: Unioleo Holdings Bhd aims to list on the ACE Market of Bursa Malaysia.
The company is principally involved in the recycling of waste tyres, and processing and trading of recovered materials.
In its prospectus exposure, released today, the company said its initial public offering (IPO) will entail a retail offering of 70 million shares and institutional offering of 280 million shares.
Berjaya Securities Sdn Bhd is the sponsor of the company’s IPO.
The company said proceeds from the IPO will be used for future business expansion, working capital, repayment of bank borrowings and listing expenses.
“Our group’s core business strategies and future plans are centred on increasing processing capacity, broadening our geographical footprint outside of the existing location of our operations in Perak and strengthening our operational capabilities.”
