Wellspire Holdings Berhad made its official debut today as a public listed company on the ACE Market of Bursa Malaysia Securities Berhad at RM 0.33, representing a 43.5% premium over its issue price of RM 0.23 per share, with an opening volume of 12.58 million shares.
Speaking at the listing ceremony, Mo Guopiao, Wellspire’s Chief Executive Officer and Executive Director said, “Today marks the realisation of months of hard work invested by our dedicated management team and diligent staff, as well as the guidance and support of our team of advisers and the responsiveness and attention from the relevant authorities towards making this IPO a success. I am proud to share with you that Wellspire is the first pre-dominantly Thai-based company listed on Bursa Securities.”
The IPO shares earmarked for private placement fulfilled, while the retail portion of the IPO of 36.0 million new shares reserved for application by the Malaysian public registered a total demand of approximately RM101.35 million or an oversubscription rate of 11.24 times.
Through its IPO, Wellspire has successfully raised gross proceeds of RM28.66 million via its public issue of 124.60 million new shares, of which approximately 55.8% of the proceeds will be utilised for the acquisition or construction of a warehouse and operational facility in Thailand. A further 20.8% of the proceeds will be used for working capital and the balance 23.4% will be used to defray listing expenses.
TA Securities Holdings Berhad is the Principal Adviser, Sponsor, Sole Underwriter and Sole Placement Agent for this IPO exercise.
