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KUALA LUMPUR, June 14, 2022 – (ACN Newswire) – Seng Fong Holdings Berhad, a rubber processor producing and trading Standard Malaysia Rubber and premium grade block rubber. Block rubbers produced are sold directly to end-user customers and international rubber traders, majority of which are tyre manufacturers. Seng Fong is enroute to a listing on the Main Market of Bursa Malaysia Securities Berhad and is pleased to announce the launch of the Company’s prospectus for the initial public offering (IPO).
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Seng Fong’s IPO involves the issuance of 160.87 million ordinary shares or 31.0% of the Company’s enlarged number of issued shares comprising a public issue of 90.81 million shares and an offer for sale of 70.06 million shares. The issued shares will be made available for application in the following manner:
Retail offering of 42.20 million shares representing 8.1% of enlarged number of issued shares will be made available in the following manner:
– 25.95 million shares representing 5.0% of enlarged number of issued shares will be made available for application by the Malaysian public (via balloting), of which 50% will be set aside for bumiputera investors including individuals, companies, societies, co-operatives and institutions
– 16.25 million shares representing 3.1% of enlarged number of issued shares reserved for application by eligible persons
Institutional offering of 118.67 million shares representing 22.9% of enlarged number of issued shares will be made available in the following manner:
– 64.87 million shares by way of private placement to bumiputera investors approved by the Ministry of International Trade and Industry
– 53.80 million shares by way of private placement to other institutional and selected investors
Managing Director of Seng Fong, Mr. Er Hock Lai said, “Our immediate objectives from the listing are to optimise production by increasing our total annual capacity through the hiring of additional workers for a second working shift and implementing the…
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