PETALING JAYA: Ekonusa Bhd is eyeing a listing on the ACE Market of Bursa Malaysia.
The company is principally involved in the manufacturing of plastic products utilising extrusion blow moulding and injection moulding techniques.
In its draft prospectus exposure, the company said its initial public offering (IPO) will entail the public issue of 121 million new ordinary shares.
Affin Hwang Investment Bank Bhd is the sponsor for the company’s IPO.
The company said the proceeds from the IPO will be utilised for the construction of a new factory, purchase of extrusion blow moulding machines and working capital.
“In line with the construction of the new factory to expand our production capacity to meet the growing demand from existing and new customers, as well as to reduce delivery lead time, we intend to purchase additional machines to support the initial production requirements.
“Based on our management’s past experience, we will require 10 automatic extrusion blow moulding machines and a labelling machine to be installed in the new factory as a start.”
