Former LEAP Market-listed company, Polymer Link Holdings Bhd, is seeking to be listed on the ACE Market of Bursa Malaysia through the public issuance of 97.1 million shares and an offer for sale of 24.1 million existing shares.
According to a media report, Polymer Link’s public issuance shares comprise of 28 million shares that will be available for application by the Malaysian public, 4.44 million shares to eligible persons under pink form allocations and 64.7 million shares will be made available by way of private placement.
Polymer Link said the proceeds from the IPO exercise will be allocated for the business expansion of its Australian operations, the repayment of bank borrowings and working capital.
Proceeds from the offer for sale, meanwhile, will accrue entirely to its group of shareholders, namely Polymer Link president and group chief executive officer Koh Song Heng, Teoh Lee Tean, group senior vice-president Koh Tat Chuan, head of supply chain and administration Koh Tat Wei, Angel Joseph Baculo Adarlo and Geeslin Montemayor Adarlo.
Hong Leong Investment Bank is the principal advisor, sponsor, sole placement agent and sole underwriter for Polymer Link’s IPO.
