PETALING JAYA: Tri Star SBN Bhd is eyeing a listing on the ACE Market of Bursa Malaysia.
The company is primarily involved in the manufacturing of speciality fasteners and provision of cathodic protection systems and cable support systems.
In its prospectus exposure, the company said its initial public offering (IPO) will entail the public issue of 116.6 million new ordinary shares.
TA Securities Holdings Bhd is the sponsor for the company’s IPO.
The company said proceeds from the IPO will be utilised to set up a new manufacturing facility in Johor, to set up a new warehouse in Umm Al Quwain, United Arab Emirates, capital expenditure in enhancing manufacturing operations, repayment of bank borrowings and listing expenses.
“As part of our expansion plan, we intend to establish a new manufacturing facility to expand and consolidate our Malaysia operations in a single location,” the company added.
