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KUALA LUMPUR, May 27, 2024 - (ACN Newswire) - EPB Group Berhad (“EPB”) and its group of companies (the “Group”), an established one-stop food processing and packaging machinery solutions provider, is pleased to announce that EPB has received the approval from Bursa Malaysia Securities Berhad (“Bursa Securities”) to list on the ACE Market of Bursa Securities. The listing exercise, is set to offer a total of 111,570,000 IPO shares, representing approximately 29.99% of the enlarged issued share capital upon listing of 372,000,002 ordinary shares, in the upcoming initial public offering (“IPO”) of the Group. Mr. Yeoh Chee Min, Managing Director of EPB Group BerhadThe Group, having initiated its operations since 1992, offers a comprehensive solution in the design, customisation, fabrication, integration, and automation of production lines, alongside the trading and manufacturing of flexible packaging materials as well as trading of cellulose casings, catering to the diverse needs of the food industry.According to EPB’s prospectus exposure for the IPO, the listing exercise involves the public issue of 71,570,000 new ordinary shares, or 19.24% of the enlarged issued share capital upon listing with an offer for sale of 40,000,000 ordinary shares, or 10.75% of the enlarged issued share capital upon listing.The IPO shares will be offered in the following manner: 1. Public Issue of 71,570,000 new ordinary shares, representing 19.24% of the enlarged issued share capital upon listing:a. 19,570,000 new ordinary shares, or 5.26% of the enlarged issued share capital upon listing will be made available for application by the Malaysian public via balloting, of which 50% of this allocation representing 9,785,000 new ordinary shares shall be made available to Bumiputera public investors; b. 21,196,000 new ordinary shares, or 5.70% of the enlarged issued share capital upon listing will be reserved for application by the eligible directors, eligible key senior management, eligible employees and business associates (including any other persons who have contributed to the success of the Group); and c, 30,804,000 new ordinary shares, or 8.28% of the enlarged issued share capital upon listing will be made available for application by Bumiputera Investors approved by the Ministry of Investment, Trade and Industry (“MITI”) by way of private placement.2. Offer for Sale of 40,000,000 ordinary shares (“Offer Shares”), representing 10.75% of the enlarged issued share capital upon listing: a. 15,696,000 Offer Shares, or 4.22% of the enlarged issued share capital upon listing shall be made available to Bumiputera investors approved by MITI; andb. 24,304,000 Offer Shares, or 6.53% of the enlarged issued share capital upon listing, shall be made available to selected investors.Mr. Yeoh Chee Min, Managing Director of EPB Group Berhad said, "We are deeply appreciative of the endorsement from Bursa Securities for our IPO on the ACE Market. This significant occasion marks a milestone for our Group's journey which will enhance our visibility and allow us to expand our footprint in Penang. The IPO serves as a gateway to the capital markets, providing us with the necessary resources to fuel our next phase of growth and innovation, particularly in the realm of robotics integration in the food processing and packaging machinery solutions currently provided to our customers."Mr. Yeoh further elaborated on the Group’s growth strategy, "The capital raised through this IPO will be instrumental in realising our expansion plans, including the expansion of our existing factory. This expansion is not just about scaling our operations; it's about strategically positioning our Group to capture emerging opportunities in the market, thereby reducing our gearing and bolstering our working capital. Our aim is to cement our Group’s status as a frontrunner in providing comprehensive food processing and packaging solutions, driving forward our commitment to excellence and innovation in the industry."Malacca Securities Sdn. Bhd. is the Principal Adviser, Sponsor, Underwriter and Placement Agent, and WYNCORP Advisory Sdn. Bhd. is the Corporate Finance Adviser of EPB Group Berhad.


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