Printing specialist debuts as first listing for the year
KUALA LUMPUR: Offset packaging printing specialist HPP Holdings Bhd (HPP) yesterday made its debut on the ACE Market of Bursa Malaysia Securities Bhd (Bursa Malaysia) as the first listing this year.
The Company began trading under the stock name HPPHB and stock code 0228. HPP’s Initial public offering (IPO) price was at RM0.36 per share.
The group’s IPO a racted strong interest, with the offering to the Malaysian public being oversubscribed by 33.44 times. The company will raise proceeds of approximately RM31.9 million, of which RM13.0 million will be utilised for capital expenditure such as acquisition of printing machines, RM7.8 million for repayment of bank borrowings, RM5.2 million for working capital and RM2.0 million for sales and marketing expenses.
The remaining proceeds of RM3.9 million will be for defrayment of IPO expenses.
Speaking at the virtual listing ceremony aired this morning, non-independent non-executive chairman, Lau Kim Wah said: “We started from humble beginnings and persevered to differentiate ourselves through quality, reliability and expertise.
“We play a role in creating impactful packaging printing for our clients’ products. We possess the ability to transform a vision into a ractive packaging design to communicate our clients’ brand identity to consumers.
“This IPO will give us the platform to realise our aspirations and accelerate our expansion plans. It also elevates our status to be part of a world-class exchange such as Bursa Malaysia.
“I have confidence that our team will scale greater heights under the capable stewardship of our group managing director, Kok Hon Seng and executive director,
Ng Soh Hoon. Hayan Group sees exciting opportunities for growth and we are ready to capture them.”
Affin Hwang Investment Bank Berhad is the Principal Adviser, Sponsor, Sole Underwriter and Sole Placement Agent for HPP Holdings’ IPO.