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Rubber processor producer and trader Seng Fong Holdings Bhd, en route to list on the Main Market of Bursa Malaysia, plans to raise RM68.1 million from its initial public offering (IPO) to part-finance expansion of its annual production capacity by 17% to 166,000 tonnes by 2023 from 142,000 tonnes currently.
KUALA LUMPUR: Rubber processor Seng Fong Holdings Bhd is aiming to raise gross proceeds of about RM68.1mil from its initial public offering (IPO) on the Main Market of Bursa Malaysia, the bulk of which will go towards repaying bank borrowings and working capital.