PETALING JAYA: Buenos International Bhd is targeting a listing on the ACE Market of Bursa Malaysia.
The company is principally involved in the provision of interior fit-out services for residential and commercial properties.
In its draft prospectus exposure, the company said its initial public offering (IPO) will entail the public issue of 80 million new ordinary shares.
KAF Investment Bank Bhd is the sponsor for the company’s IPO.
The company said the proceeds from the IPO will primarily be used for the construction of a fabrication facility and working capital requirements.
“We intend to establish a fabrication facility in Kuala Langat to support our interior fit-out operations.
“Upon the commencement of operations of this new fabrication facility, we intend to undertake the fabrication of cabinetry components (namely, kitchen cabinets and wardrobes) required for our interior fit-out projects.”
Buenos said this is expected to enhance its cost and operational efficiency by enabling better control over production schedules, improving coordination between fabrication and installation and reducing reliance on third-party suppliers. It said it has accumulated 16 years of experience in the interior fit-out services industry.
