Bison’s coming listing to grow its retail store business
KUCHING: Bison Consolidated Bhd (Bison) launched its Prospectus yesterday at One World Hotel pursuant to its initial public offering (IPO) of 80.62 million ordinary shares of RM0.20 each in conjunction with its listing on the Main Market of Bursa.
Bison is the second largest retail convenience store industry player in Malaysia with an estimated market share of 8.6 per cent in terms of outlet numbers and 6.6 per cent in terms of revenue in 2015.
“We have plans to approximately RM50.00 million of our IPO proceeds to expand our network of outlets and enhance our existing outlets in order to meet the growing demands from our customers,” said Dang Tai Luk, the group managing director during the prospectus launch.
“We will also use RM14.45 million of this IPO proceeds to invest in business functions and our back-end operations to improve and establish nationwide logistics and it capabilities to support our growing network and product base.
“About RM32.23 million of our IPO proceeds will be utilised as working capital to finance inventory stocking for our new and existing outlets as well as our other working capital requirements.”
CIMB Investment Bank Bhd is the principal adviser, managing
We have plans to approximately RM50.00 million of our IPO proceeds to expand our network of outlets and enhance our existing outlets in order to meet the growing demands from our customers.
underwriter and sole bookrunner.
Bison’s public issue of 80.62 million IPO shares encompasses an institutional offering of 62.31 million IPO shares and retail offering of 18.30 million IPO shares.
The retail price of the IPO shares is RM1.10 each, payable in full upon application and subject to refund of the difference between the final retail price and the retail price if the final retail price is less than the retail price.
The final retail price will be equal to the institutional price provided that it will not exceed the petail price, it added.
Dang Tai Luk, Bison managing director