MSB Global Group Bhd, a leading player in Malaysia’s aftermarket automotive parts and component industry, is planning to raise RM26.6 million from its ACE Market listing on the Bursa Malaysia Securities Bhd.
MSB Global’s IPO exercise entails the issuance of 133 million new ordinary shares at a retail price of 20 sen per share.
The group has allocated RM4.97 million from the IPO proceeds for the reconstruction of a new factory and warehouse to support lubricants and fluids production; RM6 million for the purchase of machinery, equipment and raw materials to establish blending and fill-and-finish production lines; RM0.84 million to support the launch and distribution of the group’s in-house branded electric vehicle chargers; RM5.5 million for repayment of bank borrowings; RM4.79 million for general working capital and RM4.5 million for listing expenses.
MSB Global Managing Director Datuk Ow Kee Foo said this IPO allows the group to solidify its position in the automotive aftermarket industry while enabling it to diversify and grow its product portfolio.
M&A Securities Sdn Bhd is the principal advisor, sponsor, underwriter, and placement agent for this IPO.
