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Seng Fong Holdings Berhad Debuts on Main Market of Bursa Malaysia

indie
4 minutes

KUALA LUMPUR, Jul 7, 2022 - (ACN Newswire via SEAPRWire.com) - Seng Fong Holdings Berhad, a rubber processor producing and trading Standard Malaysia Rubber and premium grade block rubber, made a successful debut on the Main Market of Bursa Securities Malaysia Berhad, opening at RM0.75 per share with an opening volume of 10.8 million shares, which is the same as the initial public offering (IPO) price of RM0.75 sen per share.Seng Fong's market capitalisation at listing is RM389.22 million, and the Company was listed under the stock name, SENFONG and stock code, 5308.The Chairman of Seng Fong, Mr. Ng Ah Bah @ Kok Yee, thanked the Securities Commission Malaysia, Bursa Securities, Hong Leong Investment Bank Berhad (HLIB) and other professionals involved in the IPO, and highlighted that the listing provides the Company the opportunity to realise its immediate objectives as well as investing in environmental, social, and governance (ESG) initiatives."Going forward, we will be well-positioned to capture opportunities arising from the increasing demand from our existing customers as well as from new customers as we ramp up production through the hiring of more people for a second shift and...

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Main Market-Bound Seng Fong Holdings Berhad IPO Shares Oversubscribed by 3.09 Times

indie
3 minutes

KUALA LUMPUR, Jun 29, 2022 - (ACN Newswire via SEAPRWire.com) - Tricor Investor & Issuing House Services Sdn Bhd (TIIH) is pleased to announce that the Initial Public Offering (IPO) of Seng Fong Holdings Berhad is oversubscribed by 3.09 times.Managing Director of Seng Fong, Mr. Er Hock LaiGroup Managing Director/ Chief Executive Officer of Hong Leong Investment Bank, Ms. Lee Jim LengSeng Fong's IPO involves the issuance of 160,874,300 IPO Shares in the following manner:(A) Retail offering of 42,198,000 IPO Shares to be allocated in the following manner:- 25,948,000 IPO Shares to the Malaysian public; and- 16,250,000 IPO Shares to the eligible directors and employees of Seng Fong and its subsidiaries (Group) and persons who have contributed to the success of the Group;(B) Institutional offering of 118,676,300 IPO Shares to be allocated in the following manner:- 64,870,000 IPO Shares by way of private placement to Bumiputera investors approved by the Ministry of International Trade and Industry ("MITI"); and- 53,806,300 IPO Shares by way of private placement to other institutional and selected investors.A total of 3,968 applications for 106,046,800 IPO Shares with a value of RM79...

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Seng Fong Holdings Berhad Launches Prospectus for Main Market IPO

indie
4 minutes

KUALA LUMPUR, Jun 14, 2022 - (ACN Newswire via SEAPRWire.com) - 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).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 indivi...

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Seng Fong Holdings Berhad Signs Underwriting Agreement with Hong Leong Investment Bank

indie
3 minutes

KUALA LUMPUR, May 26, 2022 - (ACN Newswire via SEAPRWire.com) - Seng Fong Holdings Berhad, a rubber processor producing and trading Standard Malaysia Rubber (SMR) and premium grade block rubber, is pleased to announce that the Company has entered into an underwriting agreement with Hong Leong Investment Bank Berhad (HLIB) for its upcoming initial public offering (IPO) on the Main Market of Bursa Malaysia Securities Berhad.Group Managing Director/Chief Executive Officer of HLIB, Ms. Lee Jim Leng; and Managing Director of Seng Fong, Mr. Er Hock Lai [L-R]According to Seng Fong's draft prospectus posted on the Securities Commission Malaysia website, the listing exercise involves the IPO of up to 160.87 million ordinary shares or up to 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 up to 70.06 million shares.Under the agreement, HLIB will underwrite 42.20 million IPO shares made available for application under the retail offering. HLIB is also the Placement Agent for 118.68 million IPO shares allocated to bumiputera investors approved by the Ministry of International Trade and Industry (MITI) as well as ...