Bursa Community
Would you like to react to this message? Create an account in a few clicks or log in to continue.
Bursa Community

Bursa Malaysia Stock Forum - Enriching You!


Heng Huat to raise RM20.93m from IPO

Bursa Community :: Community News

Go down

Heng Huat to raise RM20.93m from IPO Empty Heng Huat to raise RM20.93m from IPO

Post by Cals Wed 02 Jul 2014, 01:58

Heng Huat to raise RM20.93m from IPO
Business & Markets 2014
Written by Supriya Surendran of theedgemalaysia.com   
Tuesday, 01 July 2014 10:02

KUALA LUMPUR: Penang-based Heng Huat Resources Group Bhd plans to raise RM20.93 million in an initial public offering (IPO) on the ACE Market of Bursa Malaysia on July 25.

The coconut and oil palm biomass materials manufacturer launched its IPO prospectus yesterday, which entails a public issue of 46.5 million new shares of 10 sen each and an offer for sale of 14.66 million existing shares at an offer price of 45 sen per share, which will be allocated via private placement to identified investors.

From the 46.5 million new shares, 7 million shares will be available to the public and 5 million shares will be allocated to eligible employees and persons having contributed to the success of the group.

An additional 22.3 million shares will be placed out to bumiputera investors approved by the Ministry of International Trade and Industry and 12.2 million shares will be allocated through private placement to identified investors.

“The biomass materials industry offers huge opportunities for growth. For the group to scale to greater heights, it is necessary for us to undertake fund raising exercise to tap into the vast growth prospects of the industry,” said Heng Huat managing director H’ng Choon Seng in a statement yesterday.


This article first appeared in The Edge Financial Daily, on July 1, 2014.
Cals
Cals
Administrator
Administrator

Posts : 25277 Credits : 57721 Reputation : 1766
Male Join date : 2011-09-08
Location : global
Comments : “My plan of trading was sound enough and won oftener that it lost. If I had stuck to it I’️d have been right perhaps as often as seven out of ten times.”
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis

Back to top Go down

Back to top

- Similar topics

Bursa Community :: Community News

 
Permissions in this forum:
You cannot reply to topics in this forum