KUALA LUMPUR: EPB Group Bhd aims to raise RM40.08 million from its initial public offering (IPO) en route to its listing on the ACE Market of Bursa Malaysia on Aug 23, 2024.
Managing director Yeoh Chee Min said that of the total proceeds, RM 22.4 million would be utilised for the factory expansion, which includes the acquisition of land from Penang Development Corporation, construction of a new factory and the purchase of machinery.
“Our current facility is overcapacity and we missed a lot of opportunities as we do not have enough space to showcase our products. We are very constrained in terms of space, thus we need this,” he told a press conference in conjunction with the prospectus launch today. – Bernama