Topmix Berhad, a leading manufacturer of building material products, is going public on the ACE Market of Bursa Malaysia. The company has announced its initial public offering (IPO) comprising 102.4 million shares up for grabs.
To apply Malaysia IPO, you must have a Direct CDS account.
The IPO Breakdown
- 82.7 million new ordinary shares (21% of enlarged share capital)
- 19.7 million existing shares offered for sale (5% of enlarged capital)
- Shares to be issued via private placement to selected investors
Use of IPO Proceeds Topmix plans to utilize the funds raised from the IPO as follows:
- 44.2% or RM11.3 million for general working capital
- 23.3% or RM6 million for business expansion initiatives
- 20.8% or RM5.3 million to expand into assembly of melamine-faced chipboard products
- 11.7% or RM3 million to cover IPO listing expenses
Established in 1994, Topmix manufactures a wide range of wood-based products like wooden door frames, door leaves, and moldings. The company exports to over 10 countries.
The IPO provides an opportunity for investors to participate in Topmix’s growth as it expands production capabilities and venture into new product segments using the IPO proceeds.
In Malaysia, you need a Direct CDS Account Number to apply in IPO.
To get a 15-digit Direct CDS Account Number,
1. Download M+ Global app
2. Sign up online
3. Choose the Malaysia Market
4. Enter my Invitation Code, which is UBZQ
5. Pay RM11 to register a Bursa Direct CDS number.
6. Wait for the email confirmation.
After you get 15-digit Direct CDS Number, you can apply the IPO in your online banking, such as Maybank2u and Public Bank Online Banking. Step by Step details are here.
