Hextar Industries Behad announced that it is seeking to transfer the listing and quotation of its entire issued share capital from the Ace Market to the Main Market of Bursa Securities.
The group was listed on the ACE Market on 13 February 2014 under the name SCH Group Berhad. It has a market capitalisation of approximately RM1.06 billion based on the closing market price of HIB shares on 9 November 2023. The Company currently has 2,747,341,623 ordinary shares in issue. For the recent quarter ended 30 June 2023, the group recorded a consolidated revenue of RM251.4 million with a profit after tax of RM21.2 million.
The proposed transfer it said is intended to enhance the group’s status and provide greater recognition and acceptance amongst investors. In addition, the Proposed Transfer it said will also elevate its corporate image amongst clients, contractors, business partners, and bankers.
Commenting on the Proposed Transfer, Mr Benny Ang, the Group Managing Director said “We hope that being listed on Main Market will enhance our ability to raise funds for further expansion and also enable us to attract institutional investors to participate in our growth.” Barring any unforeseen circumstances, the Proposed Transfer is expected to be completed by the first quarter of 2024.