KUALA LUMPUR (March 16): Volcano Bhd, an international manufacturer of nameplates and plastic injection moulded parts, is seeking to raise RM8.75 million from its initial public offering (IPO).
In a statement, it said the group plans to utilise RM5.55 million from the proceeds for machinery and equipment purchase, while RM3.2 million is allocated for listing expenses.
The company today launched its prospectus for the listing exercise on Bursa Malaysia’s ACE Market, which involves a public issue of 25 million shares and an offer for sale of 35 million shares at an issue price of 35 sen per share.
Volcano managing director Datuk Ch’ng Huat Seng said the proceeds would go towards acquiring laser-cutting and pick-and-paste machines to improve the efficiency and capability of the nameplate manufacturing process.
Volcano aims to raise gross proceeds of RM8 75mil from IPO thestar.com.my - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestar.com.my Daily Mail and Mail on Sunday newspapers.