The wholesaler and manufacturer specialising in gold jewellery, YX Precious Metals, officially debuted on the ACE Market of Bursa Securities this morning under the stock name of ‘YXPM’ and stock code of ‘0250’.
The IPO exercise entails a Public Issue of 111.65 million new ordinary shares at an Issue Price of RM0.28 per share. Based on the Issue Price and the enlarged issued share capital of 372.15 million, YXPM has a market capitalisation of RM104.20 million.
“As demonstrated from the public portion of our shares which was oversubscribed by 26.36 times, this strong interest from the members of the public will give us motivation to strive for better achievements in the coming years,” the Independent Non-Executive Chairman of YXPM, Tan Sri Azlan Bin Mohd Zainol waas quoted as saying at the listing ceremony.
YXPM raised a total of RM31.26 million in proceeds from the listing. RM6.90 million or 22.07% of the total proceeds have been allocated to expand its hollow gold jewellery range and improve operational efficiency. RM20.86 million or 66.73% have been earmarked for working capital requirements to cater for future demand, while the remaining RM3.50 million or 11.20%
will be used to defray listing expenses.
While the Principal Adviser, Sponsor, Sole Underwriter and Sole Placement Agent for this IPO exercise appointed is Public Investment Bank.
