KUALA LUMPUR: Teamstar Bhd aims to raise RM34.32mil from its initial public offering (IPO) ahead of its ACE Market listing on Feb 25, 2026.
The investment holding company said proceeds from the IPO would be allocated for the establishment of new retail outlets and warehouses (RM23.21mil), working capital requirements (RM4.65mil) and repayment of borrowings (RM1.46mil).
Meanwhile, an additional RM5mil will be used to defray fees and expenses related to the IPO.
Teamstar said the IPO entails the public offering of 204 million ordinary shares, comprising a public issue of 132 million new ordinary shares and an offer for sale of 72 million existing shares, collectively representing 25.50% of the company’s enlarged issued share capital of 800 million ordinary shares.
