DS Sigma Holdings Berhad made its maiden foray into the ACE Market of Bursa Malaysia Securities Berhad with an opening price of RM0.81, a 47.27% premium over its issue price of RM0.55 and an opening volume of 12.46 million shares.
The IPO exercise has successfully raised approximately RM50.15 million via the issuance of 91.18 million new ordinary shares. DS Sigma will utilise RM17.20 million of the RM50.15 million to expand its operational facilities and RM16.00 million for the purchase of new machinery and equipment. Another RM1.14 million t said will be channelled towards the establishment of a packaging design and innovation centre while RM6.00 million will be utilised for the repayment of bank borrowings. RM5.41 million will be for working capital while the remaining will be allocated for listing-related expenses.
Managing director Lucille Teoh Soo Lien commenting on the listing said, “We have evolved and I am proud to say that today we have built our expertise in particular our in-house corrugated paper packaging products and procurement of non-paper based protective packaging products to enhance our offerings, now making us a complete end-to-end packaging solutions provider. We aim to expand our business into new markets where we plan to increase our customer base by tapping into the solar photovoltaic and medical devices industry.
In addition, we will also be increasing our capacity through establishing an additional factory in Klang, Selangor, as well as expanding our business operations in Penang. We are confident that this listing exercise will enhance DS Sigma’s profile which will help to grow our market share as we look to target new markets while continuing to foster continuous growth of our existing customer base. We look forward to having a long term partnership with our shareholders as we gradually grow our business and look to deliver immense value.”
