KHPT Holdings Berhad has entered into an underwriting agreement with KAF Investment Bank Berhad for the Company’s Initial Public Offering on the ACE Market of Bursa Malaysia Securities Berhad.
The IPO entails a public issue of 108,644,300 new ordinary shares and an offer for sale of 38,226,600 existing ordinary shares. Of the 108,644,300 Public Issue Shares, 78,465,200 Public Issue Shares will be made available to selected investors via private placement, 20,119,400 Public Issue Shares will be made available to the Malaysian Public.
KAF IB has been appointed to underwrite a total of 30,179,100 Public Issue Shares, being the Public Issue Shares portion which will be made available to the Malaysian Public via balloting and eligible directors and employees of the Group.
KHPT Group is principally involved in the manufacturing and sale of automotive parts to local automotive manufacturers and mainly to their respective Tier-1 suppliers and manufacturers. Automotive parts which are supplied by the Company ranges from body parts, seat structure and other parts (e.g. absorber parts, drive plate). The gross proceeds arising from the Public Issue have been earmarked for a capital expenditure investment, which include the purchases of press machines and automation equipment, an overhead crane and renovation of its existing factory located in Teluk Panglima Garang, Selangor to cater for the expansion of new body parts production line.
KHPT is expected to be listed in October 2024 and KAF IB is the Principal Adviser, Sponsor, Underwriter and Placement Agent for the IPO.
