PETALING JAYA: MTT Shipping and Logistics Bhd is eyeing a listing on the Main Market of Bursa Malaysia.
The company is principally involved in the provision of container liner shipping services, vessel chartering services, and container storage and container-related services.
In its prospectus exposure, released today, the company said its initial public offering (IPO) will entail the public issue of 633.5 million new ordinary shares.
CIMB Investment Bank Bhd is the principal adviser for the company’s IPO.
The company said proceeds from the IPO will be used for the acquisition of container vessels, as well as to defray fees and expenses relating to its listing.
“We intend to acquire additional container vessels with a range of capacities to widen and extend our footprint within and beyond the South-East Asia region, including further expansion in the India subcontinent and the South of China region, as well as to capitalise on the vessel chartering business,” said the company.
