DS Sigma Holdings Berhad a packaging products provider, launched the prospectus for its initial public offering in conjunction with its upcoming listing on the ACE Market of Bursa Malaysia Securities Berhad, targeted for early January 2023.
To cater to its business expansion plans, the company is aiming to raise approximately RM50.15 million from this IPO via the issuance of 91.18 million new ordinary shares at an issue price of RM0.55 per share. It will utilise 34.30% of the RM50.15 million to be raised to expand its operational facilities and 31.91% for the purchase of new machinery and equipment. Another 2.27% will be channelled towards the establishment of a packaging design and innovation centre while 11.96% will be utilised for the repayment of bank borrowings. 10.79% will be for working capital while the remaining 8.77% will be allocated for listing-related expenses.
Managing Director Lucille Teoh Soo Lien said, “Following our listing on the ACE Market, we will have more valued opportunities to grow this market share as DS Sigma only accounts for 2.5% of the Malaysian market according to the Industry Overview Report prepared by the Independent Market Researcher. Through this IPO exercise, DS Sigma intends to raise 50.15 million ringgit whereby, the bulk of the proceeds will be used on expanding our capabilities to capture more of this market share.” she added
Public Investment Bank Berhad’s chief executive officer Lee Yo-Hunn said, “We are extremely proud to bring such an established and esteemed company to the capital markets in Malaysia”. He further added, “We believe that the Group is in capable hands and under their lead, the Group will continue to scale greater heights and create more value for all its stakeholders.”
Public Investment Bank Berhad is the principal adviser, sponsor, sole underwriter, and sole placement agent for the IPO exercise.
