Minox International Group, has successfully launched its prospectus in conjunction with its upcoming initial public offering and listing on the ACE Market of Bursa Malaysia Securities Berhad.
Managing Director of Minox, Mr. Cheong Chee Son, said, “The unveiling of our prospectus today is a major milestone for Minox – a culmination of the team’s hard work and dedication that have now come to fruition. However, we should not be complacent. Instead, we must continue to move forward in pursuit of excellence and greater success.”
The company aims to use the IPO proceeds to facilitate its growth and expansion of its Singapore business, setting up a new warehouse in Singapore with an expected storage area of approximately 7,500 square feet, which will provide additional capacity to store new vacuum fittings and valves for the semiconductor industry as well as to store inventories that cater for customers in Singapore and other overseas market such as Bahrain, Cambodia, Denmark, Germany, India, Japan, South Korea, Myanmar, Sri Lanka, Spain and United Arab Emirates.
This new warehouse will allow to store additional inventories which in turn may lower average cost per unit by leveraging on Singapore’s free trade agreements with its trade partners.”
From the expected total IPO proceeds of RM22.5 million, majority or 57.9% will be utilised towards growing the business.
