Zantat Holdings Berhad has signed an Underwriting Agreement with M & A Securities Sdn Bhd for its listing on the ACE Market of Bursa Malaysia Securities Berhad.
The initial public offering involves a Public Issue of 56.0 million new shares, representing 20% of the enlarged share capital of Zantat and an Offer for Sale of 16.8 million existing shares by way of Private Placement to selected investors.
Of the 56.0 million issue shares, 14.0 million issue shares will be made available to the Malaysian public via balloting; 11.2 million issue shares for its eligible Directors, employees and persons who have contributed to the success of Zantat Group under Pink Form Allocations while the remaining 30.8 million issue shares are reserved for Private Placement to selected investors.
Pursuant to the Underwriting Agreement, M & A Securities will underwrite a total of 25.2 million issue shares made available to the Malaysian public and Pink Form Allocations.
Zantat is one of the biggest producers of high-grade calcium carbonate products in the region with 39 years of operating history in Malaysia. Through its subsidiaries, Zantat is principally involved in the production of calcium carbonate products namely ground calcium carbonate and calcium carbonate dispersions.
Mr Ivan Chan, Managing Director of Zantat, said the IPO exercise is timely for the Company as it will enable Zantat to gain access to the Malaysia capital markets to raise funds for the execution of its expansion plans and to support its continued growth.
M & A Securities is the Adviser, Sponsor, Underwriter and Placement Agent for the IPO exercise.
