KUALA LUMPUR: DS Sigma Holdings Bhd, a packaging products provider, launched the prospectus for its initial public offering (IPO) in a ceremony in Kuala Lumpur today.
The prospectus launch was in conjunction with its listing on the ACE Market of Bursa Malaysia Securities Bhd targeted for Jan 6, 2023.
To cater for its business expansion plans, DS Sigma is expected to raise about RM50.15 million via the issuance of 91.18 million new ordinary shares at 5 sen per share. The group will utilise about 34% of the RM50.15 million to expand its operational facilities and 31.9% for the purchase of new machinery and equipment.
Applications for the public issue are open and will close on Dec 21 at 5pm.
“Over the span of two decades, we have evolved from a product-centric supplier to a supply chain packaging solutionist. We provide complete end to end solutions from design packaging optimisation, container loading efficiency, consignment packaging management, Just in Time delivery, assembly and packing services,“ said managing director Lucille Teoh Soo Lien.
She said this shift from providing packaging products to solutions is a step towards the right direction as it has become the company’s key competitive strength, providing its customers with convenience and peace of mind.
“Following our listing on the ACE Market, we will have more valued opportunities to grow this market share as DS Sigma only accounts for 2.5% of the Malaysian market, according to the Industry Overview Report prepared by the Independent Market Researcher. Through this IPO exercise, DS Sigma intends to raise RM50.15 million whereby, the bulk of the proceeds will be used on expanding our capabilities to capture more of this market share,” she added
“We are extremely proud to bring such an established and esteemed company to the capital markets in Malaysia”, said Public Investment Bank Bhd CEO Lee Yo-Hunn. “We believe that the group is in capable hands and under their lead, the group will continue to scale greater heights and create more value for all its stakeholders,” he added.
Public Investment Bank Bhd is the principal adviser, sponsor, sole underwriter and sole placement agent for the IPO exercise.