From left: Guan Huat Seng Holdings Bhd executive director Yeo Tian Seng, Guan Huat Seng Holdings managing director Yeo Tien Ee, TA Securities Holdings Bhd executive director - operations Tah Heong Beng and TA Securities head of corporate finance Ku Mun Fong.
KUALA LUMPUR: Guan Huat Seng Holdings Bhd (GHS Holdings), a Melaka-based distributor, retailer and flavouring products manufacturer, has signed an underwriting agreement with TA Securities Holdings Bhd for its initial public offering (IPO) on the ACE Market of Bursa Malaysia.
In a statement, the group said the agreement marks a key milestone in its IPO exercise, which will involve the issuance of 120 million new shares, representing 25.34% of its enlarged share capital of 473.5 million shares.
The IPO will also include an offer for sale of 21 million existing shares, equivalent to 4.44% of the enlarged share capital.
With more than four decades of history through its subsidiary Guan Huat Seng (Heng Kee) Sdn Bhd, the group has built a broad distribution network spanning shelf-stable and frozen seafood, flavouring products, dried foods, snacks and general groceries.
Its manufacturing arm, GHS Food Industries Sdn Bhd, produces in-house flavouring products for domestic and export markets.
The group serves wholesalers, retailers, food service operators, end-consumers and food manufacturers in Malaysia and selected overseas markets.
Under the underwriting agreement, TA Securities will underwrite 23.80 million new Shares, being shares allocated to the Malaysian public.
The remaining shares will be placed to selected investors, MITI-approved Bumiputera investors, and eligible directors, employees and other contributors to the group.
GHS Holdings managing director Yeo Tien Ee said the signing of the underwriting agreement marks a significant step forward as the group moves closer to its listing on the ACE Market.
“Our journey from operating a retail outlet in Kampung Pantai, Melaka to becoming an established and diversified distributor and retailer of food products serving several market segments has been built on trust and quality.
“The IPO will enable us to, among others, support the construction of a New Integrated Complex in Melaka, which will include additional storage facility, food processing facility, product development facility, product showroom and administrative office and a New Krubong Facility in Melaka which will expand our production and storage capacity.
“The expansion of these facilities is expected to enhance our operational efficiency and support our future growth,” Yeo said.
TA Securities is the principal adviser, sponsor, underwriter, and placement agent for this IPO.
GHS Holdings is slated to be listed on the ACE Market on Jan 22, 2026.
