Zantat inks underwriting deal with M&A Securities

KUALA LUMPUR: Zantat Holdings Bhd has signed an underwriting agreement with M&A Securities Sdn Bhd for its listing on the ACE Market of Bursa Malaysia.

In a statement, the calcium carbonate producer said its initial public offering (IPO) involves a public issues of 56 million new shares, or 20% of its enlarged share capital, as well as an offer for sale of 16.8 million existing shares via private placement to selected investors.

Of the 56 million issued shares, M&A Securities will underwrite 14 million to be made available to the Malaysian public as well as 11.2 million pink-form share allocation for eligible directors, employees and persons who have contributed to the success of the company.

The remaining 30.8 million issue shares are reserved for private placement to selected investors.

Zantat said it is one of the biggest producers of high-grade calcium carbonate products in the region with 39 years of operating history in Malaysia.

Through its subsidiaries, Zantat is principally involved in the production of calcium carbonate products such as ground calcium carbonate and calcium carbonate dispersions.

Zantat managing director Ivan Chan said the funds raised from the IPO will go towards its expansion plans and support its continued growth.

“The IPO will see us realise plans to expand the applications of our ground calcium carbonate products to the high value-added hygiene and plastic packaging industries,” he said.