Colform Group Berhad Targets RM41.19 million From Ace Market IPO
KUALA LUMPUR, MALAYSIA / ACCESSWIRE / January 15, 2025 /Colform Group Berhad ("Colform" or the "Group"), an established steel and building material specialist in East Malaysia, is pleased to announce the launch of its prospectus in conjunction with its proposed Initial Public Offering ("IPO") on the ACE Market of Bursa Malaysia Securities Berhad ("Bursa Securities"). This IPO represents a pivotal step in Colform 's journey, enabling the Group to expand its operations and solidify its market presence in steel manufacturing, trading, and installation services.
With over 20 years of experience, Colform has solidified its role as a trusted partner, delivering end-to-end steel solutions to support Malaysia 's construction development from concept to completion. Headquartered in Kota Kinabalu, Sabah, Colform 's offerings span across various types of downstream steel products such as roofing sheets, wall claddings and IBS steel framing systems -providing cost-efficient, labor-saving solutions tailored to meet industry standards. Colform serves a diverse clientele, including government, commercial, and private sectors, embodying reliability and innovation in every project.
Through this IPO, Colform aims to raise RM41.19 million via the issuance of 114.42 million new shares at an issue price of RM0.36 per share. The proceeds will be allocated as follows:
RM9.00 million for setting up a colour coil coating production line at the Kota Kinabalu factory;
RM4.50 million for constructing a new storage facility in Kota Kinabalu;
RM5.10 million for business expansion into Peninsular Malaysia, including establishing a branch office and leased factory in Klang;
RM18.09 million for working capital purposes; and
RM4.50 million for listing expenses.
Applications for the IPO open at 10:00 a.m. today, following the prospectus launch, and will close on 23 January 2025. Colform is expected to debut on the ACE Market on 10 February 2025. At an IPO price of RM0.36 per share, the company 's market capitalisation upon listing will stand at RM216.00 million.
Mr. Kang Ket Hung, Managing Director of Colform Group Berhad, commented, "The launch of our IPO prospectus marks a major milestone in Colform Group Berhad 's history. Since our inception in 2003, Colform has grown from humble beginnings into a provider of comprehensive steel solutions. From concept to completion, we deliver tailored services spanning design, production, and installation, including Industrialised Building System (IBS) framing systems. Our ability to adapt and evolve with changing customer demands has been key to our success, enabling us to offer innovative, tailor-made solutions that meet industry needs.
This IPO will enable us to expand our capabilities with a new colour coil coating production line, enhance operational efficiency, and establish our presence in Peninsular Malaysia. Guided by quality, precision, and innovation, we are committed to creating lasting value for our stakeholders while contributing to Malaysia 's infrastructure development."
Mr. Eric Chong, Head of Corporate Finance of Mercury Securities Sdn. Bhd., stated, "Congratulations to Colform Group Berhad on achieving this significant milestone with the launch of your prospectus. This IPO represents a new chapter of growth and opportunity for the Group, and we are honored to be part of your corporate journey."
Mercury Securities Sdn Bhd is the Principal Adviser, Sponsor, Sole Underwriter and Sole Placement Agent for Colform Group Berhad.
About Colform Group Berhad
Colform Group Berhad ("Colform") is an established steel and building materials specialist with over 20 years of experience that specialising in manufacturing, processing and trading of steel products, Colform also provides supply and installation services including IBS steel framing systems as well as project management services for construction projects. Colform primarily serving customers in the construction industry in East Malaysia. With an extensive range of offerings, including roofing sheets, IBS steel framing systems, guardrails, and more, Colform provides comprehensive solutions tailored to the needs of the construction industry. Committed to quality, innovation, and sustainable growth, Colform has a strong track record in delivering robust, reliable steel solutions across government, commercial, and private projects.
For more information, visit https://www.colform.com.my/
Swan Consultancy Sdn. Bhd. on behalf of Colform Group Berhad
For more information, please contact:
Jazzmin Wan
Email: j.wan@swanconsultancy.biz
William Yeo
Email: w.yeo@swanconsultancy.biz
SOURCE:Colform Group Berhad
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