SBH Marine Holdings Berhad has received approval from Bursa Malaysia Securities Berhad for its listing on the ACE Market of Bursa Malaysia Securities Berhad.
In conjunction with its listing, SBH will undertake an initial public offering exercise entailing a public issue of 180,000,000 new ordinary shares and an offer for sale of 50,000,000 existing ordinary shares. Of the 180,000,000 Public Issue Shares, 45,000,000 Public Issue Shares will be made available to the Malaysian Public via balloting.
The company is principally involved in processing and sale of frozen seafood with a focus on shrimps and cephalopods such as octopus, cuttlefish and squid. Its existing processing plant in Kuala Kurau, Perak has an annual capacity of 4,800 tonnes. The SBH Group also farms black tiger prawns and whiteleg shrimps from its existing aquaculture farms located in Kuala Kurau and Selinsing, Perak. The SBH Group’s products are mainly exported overseas to countries in the European, Middle Eastern and Asian regions.
Mr. Tan Boo Nam, SBH’s Group Managing Director, said: “We are very proud to announce that we are one step closer to our objective of listing on the ACE Market of Bursa Securities. This marks a very significant milestone in our corporate journey as we look to further strengthening our position as a recognised integrated frozen seafood specialist. The proceeds from the IPO will facilitate our business expansion by financing the on-going development of our Selinsing farm as well as for the construction of our new seafood processing plant in Kuala Kurau, Perak, all expected to cater towards the anticipated global demand growth for sustainable seafood.”
KAF Investment Bank Berhad is the Principal Adviser, Sponsor, Sole Underwriter and Sole Placement Agent for the IPO.
