PETALING JAYA: HSS Holdings Bhd has entered into an underwriting agreement with M & A Securities Sdn Bhd in preparation for its initial public offering (IPO) on the ACE Market of Bursa Malaysia.
In a statement, the bakery products company said its IPO comprises a public issue of 75 million new shares and an offer for sale of 52.5 million existing shares.
“The proceeds from the public issue are intended to be utilised for capital expenditure (capex) for the group’s manufacturing facilities, as well as for the repayment of borrowings, working capital and estimated listing expenses.
“The planned capex includes the installation of a new biscuit production line, purchase of machinery to automate back-end stages of both biscuit and cookies production lines and the installation of a new automated cake production line,” it said.
