HSS Holdings Berhad has officially launched its prospectus for an IPO on the ACE Market of Bursa Malaysia, in a proposed listing exercise to raise RM13.5 million for capacity expansion, automation upgrades and working capital needs.
The group’s IPO exercise comprises a public issue of 75 million new shares and an offer for sale of 52.5 million existing shares, priced at 18 sen per share.
Managing Director Goh Chen Chang said proceeds from the public issue will be channelled mainly towards upgrading manufacturing capabilities, including a new biscuit production line, enhancements to existing cookie lines, backend process automation and a new automated cake production line.
He added that the funds will also be used for bank borrowings repayment (RM4.5 million), working capital (RM2.93 million) and listing expenses (RM3.5 million).
M&A Securities Sdn Bhd is the principal advisor, sponsor, underwriter and placement agent for the group’s IPO exercise.
