TOP PAGE
ENGLISH
JAPANESE
|
CONNECT WITH US:
Home
About
Services
Contact
Log in
Home
Press release
May 17, 2022 13:30 JST
Source:
Yew Lee Pacific Group Berhad
Yew Lee Pacific Group Berhad Launches Prospectus for ACE Market IPO
Ipoh-based industrial brush manufacturer to raise RM37.27 million from listing
KUALA LUMPUR, May 17, 2022 - (JCN Newswire) - Yew Lee Pacific Group Berhad (YLPG), an established manufacturer principally involved in the manufacturing of industrial brushes as well as the trading of machinery parts and industrial hardware, launched the Company's prospectus today for an initial public offering (IPO) leading to a listing on the ACE Market of Bursa Malaysia Securities Berhad.
MR. LEE YOKE WAH, Associate Director of Corporate Finance, M&A Securities; MR. GARY TING, Head of Corporate Finance; MS. ANG POH YEE, Chief Operating Officer & Executive Director, YLPG; DATUK BILL TAN, Managing Director of Corporate Finance, M&A Securities; EN. MAHDZIR BIN OTHMAN, Independent Non-Executive Chairman, YLPG; MR. ANG LEE LEONG, Managing Director; MR. DANNY WONG, Deputy Head of Corporate Finance, M&A Securities; MR. KELVIN KHOO, Managing Director, Eco Asia Capital Advisory [L-R]
The Company's IPO involves the issue of 133.10 million new shares to be issued at RM0.28 sen per share and an offer for sale of 26.62 million existing shares by way of private placement to selected investors. The public issue shares will be made available for application in the following manner:
Public issue
- 26.62 million new shares made available for application to the Malaysian public
- 15.97 million new shares allocated for application by eligible directors and employees
- 23.96 million new shares by way of private placement to selected investors
- 66.55 million new shares by way of private placement to identified bumiputera investors approved by the Ministry of International Trade and Industry (MITI)
The IPO is expected to raise gross proceeds of RM37.27 million to be utilised in the following manner:
Utilisation of proceeds
- RM10.90 million for purchase of machinery and equipment
- RM7.30 million for construction of warehouse facility and office building
- RM1.80 million for renovation of office building
- RM8.90 million for repayment of bank borrowings
- RM4.57 million for working capital
- RM3.80 million for listing expenses
Managing Director of YLPG, Mr. Ang Lee Leong, said: "The launch of this Prospectus is an important milestone for us as it marks the fruits of our labour from when we first started operations in 2004. As an established producer of industrial brushes, we embarked on this IPO to raise funding for our growth plans and elevate our profile in the industry."
"To maintain sustainable growth and create long-term shareholder value, we have plans to expand manufacturing capacity and increase automation which the proceeds from the IPO enables us to implement. We are also constructing warehouse and office facilities as the current facilities are needed for the expansion of the Group's manufacturing activities and also to cater for future business growth."
YLPG produces industrial and technical brushes for various manufacturing industries including glove, industrial, electrical and electronic, industrial and commercial cleaning providers as well as glass and wood producers. For the financial year ended 31 December 2021 (FY2021), 76.8% of the Group's total revenue was mainly derived from Malaysia while the remaining 23.2% was derived from the overseas market primarily located in Thailand, Vietnam, Indonesia and Taiwan, representing approximately 7.0%, 5.8%, 3.3% and 5.8% respectively.
Deputy Head of Corporate Finance, M&A Securities Sdn Bhd, Mr. Danny Wong said: "The proceeds from the IPO will allow YLPG to increase its manufacturing capacity in order to support its expansion plans and capitalise on the post Covid demand recovery. As such, we are confident that Yew Lee's shares will be well received upon IPO."
M&A Securities is the Principal Adviser, Sponsor, Underwriter and Placement Agent for YLPG's IPO while Eco Asia Capital Advisory Sdn Bhd is the Financial Adviser.
Yew Lee Pacific Group Bhd:
https://yewlee.com.my/
Source: Yew Lee Pacific Group Berhad
Sectors: Daily Finance, Daily News, Local Biz, Manufacturing
Copyright ©2024 JCN Newswire. All rights reserved. A division of Japan Corporate News Network.
Latest Press Release
Eisai: Discovery Research on Dual Orexin Receptor Antagonist Lemborexant Honored with PSJ Award for Drug Research and Development 2024
Mar 29, 2024 14:32 JST
TANAKA Memorial Foundation Announces Recipients of Precious Metals Research Grants
Mar 29, 2024 11:00 JST
Fujitsu Selected as CDP Supplier Engagement Leader
Mar 29, 2024 10:28 JST
Mazda Production and Sales Results for February 2024
Mar 29, 2024 10:00 JST
Mitsubishi Shipbuilding Receives Order from the University of Tokyo for "MiPoLin" Power Prediction and Lines Selection System
Mar 28, 2024 16:45 JST
Mitsubishi Logisnext Completes Demonstration of Automated Truck Loading, Leading to Start of Actual Operations in Japan
Mar 28, 2024 13:52 JST
Toyota Releases Sales, Production, and Export Results for February 2024
Mar 28, 2024 13:35 JST
TANAKA to Install 500 kW Fuel Cell System to Promote the Use of Hydrogen Energy at Production Plants
Mar 28, 2024 03:00 JST
PEVE to change name to TOYOTA BATTERY Co., Ltd. and produce batteries for a wide range of electric vehicles
Mar 27, 2024 15:13 JST
NTT and Olympus Begin World's First Joint Demonstration Experiment of Cloud Endoscopy System
Mar 27, 2024 15:00 JST
TANAKA Holdings Announces Green Loan Financing for Construction of New Head Office Building
Mar 27, 2024 03:00 JST
JFE Steel and Hitachi Jointly Started Providing Solutions for the Steel Industry
Mar 26, 2024 19:04 JST
La Banque Postale and JCB join forces to elevate payments experience for travellers in France
Mar 26, 2024 15:00 JST
Fujitsu Tech Leverages AI and Underwater Drone Data for 'Ocean Digital Twin'
Mar 26, 2024 10:24 JST
NEC develops marketing strategy planning & effectiveness simulation technology using generative AI
Mar 25, 2024 10:08 JST
Toyota to Open New Tokyo Head Office in Shinagawa in FY2030
Mar 22, 2024 16:15 JST
Hitachi Selected as CDP Supplier Engagement Leader for the Third Consecutive Year
Mar 22, 2024 16:04 JST
Mitsubishi Motors Celebrates Production of 100,000th fully electric minivehicle
Mar 22, 2024 15:34 JST
JCB and AEON Credit Service Indonesia Launch the AEON JCB Precious Card
Mar 22, 2024 15:00 JST
JCB Issues White Paper on Calculating CO2 Emissions by Payment Method in Japan
Mar 22, 2024 12:00 JST
More Latest Release >>