Zantat Holdings Bhd has reallocated RM1 million of its unutilised initial public offering proceeds from research and development expenditure to working capital, while extending the utilisation period for its remaining IPO funds by another 12 months.
The company raised RM14 million from its listing on Bursa Malaysia’s ACE Market on March 27, 2024, and has so far utilised approximately RM12.5 million, or 89.3%, of the proceeds.
Following the latest reallocation, Zantat will have RM1.529 million of IPO proceeds remaining, comprising RM298,000 for the upgrading of R&D facilities and RM1.231 million for working capital.
The utilisation timeframe for the remaining funds will be extended to 42 months from the listing date, from the previous 30-month period.
Zantat had earlier, in March 2025, secured an 18-month extension for the utilisation of its IPO proceeds.
The group said the decision to redirect RM1 million from its R&D allocation followed the completion and launch of its Poly+Cal Lab in October 2025, which is now fully operational.
The facility supports product development and enhancement, particularly for polymer-related applications, and is being used in collaboration with both internal business units and external customers.
Zantat said the remaining RM298,000 earmarked for R&D facilities is sufficient to complete the procurement of outstanding test and measurement equipment.
The RM1 million reallocated to working capital will be used primarily for the purchase of raw materials including minerals, chemicals and packaging materials, as well as transportation, freight and forwarding services.
The group said it continues to operate in a challenging margin environment, with freight costs and other input pressures affecting profitability.
