Formerly known as Berjayapak International Holdings, L&P Global has received the approval to list on the ACE Market of Bursa Securities.
L&P and its subsidiaries, with 38 years of long-standing history in the industry, are an integrated industrial packaging solutions provider. It is principally involved in the design and manufacturing of wooden industrial packaging products comprising boxes, crates and pallets.
It also provides packing services as well as trading of related products and raw materials as value-added services to its customers. In meeting the increase in demand for more sustainable packaging, the Group offers pallet recycling and repair services as part of its circular supply services.
The group’s clientele comprises of notable customers which include multinational corporations from various industries such as renewable energy, electronics and semiconductor, food, automotive, and packaging. Geographically, apart from its primary market in Malaysia, the Group has also established operations in Vietnam.
“As the world transitions into an endemic phase after the Covid-19 pandemic, growth in the economy, international trade and e-commerce sectors augur well for the demand of wooden industrial packaging to support the growth in warehousing and logistics needs. Furthermore, the on-going US-China trade war has led to a rise in multinational companies relocating their manufacturing facilities based in China, to countries such as Malaysia and Vietnam where we have operations in,” Executive Director-cum-Chief Executive Officer of L&P, Miss Ooi Lay Pheng said.
“Our impending listing exercise certainly comes at an opportune time. Through the utilisation of the listing proceeds, we will be able to strengthen our market presence and operational capabilities and have better financial flexibility to capitalise on the attractive prospects ahead,” she added.
The initial public offering (IPO) exercise of L&P will entail a public issuance of 113.0 million new shares, representing 20.2% of its enlarged issued share capital upon listing. 33.8 million of existing shares or 6.0% of its enlarged issued share capital upon listing will also be offered for sale by way of private placement to selected investors.
Of the 113.0 million new shares, 24.0 million or 4.3% will be made available for application by the Malaysian public, while 13.0 million shares or 2.3% will be made available for application by eligible directors, employees and persons who have
contributed to the success of the Group.
The remaining 76.0 million shares or 13.6% will be made available for application to selected investors and Bumiputera investors approved by the Ministry of International Trade and Industry of Malaysia (MITI) via private placements.
Barring unforeseen circumstances, L&P targets to be listed by the first quarter of 2023.
Alliance Islamic Bank is appointed as the Principal Adviser, Sponsor and Sole Underwriter for this IPO exercise.
While Joint Placement Agents are Alliance Islamic Bank and Affin Hwang Investment Bank.
