Pan Merchant Aims To Raise RM67.6 Mln From IPO
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KUALA LUMPUR, June 6 (Bernama) -- Solid-liquid filtration solutions provider Pan Merchant Bhd aims to raise RM67.6 million from its initial public offering (IPO) en route to a listing on the ACE Market of Bursa Malaysia.
The company, which is scheduled for the listing on June 26, 2025, is making a public issue of 232.2 million new shares, priced at 27 sen apiece.
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Managing director Wong Voon Ten said that through this IPO, the group aims to stay ahead in the industry, placing strong emphasis on research and development, sharpening products performance and experimenting with new materials and technologies.
He said the group is also pushing ahead with its international expansion strategy, with particular focus on the United State (US) and European markets which represent high-potential opportunities for premium solid-liquid filtration systems.
'We are committed to expanding our international footprint and sharpening our competitive edge as we work towards growing our global market share to 2.0 per cent - 3.0 per cent in the future from 0.5 per cent,' he said during the launch of Pan Merchant's prospectus here today.
Wong said Pan Merchant is ramping up its manufacturing capabilities by investing in the latest machinery and expanding automation.
The company has earmarked 40 per cent for its capital expenditure out of the RM67.6 million listing proceeds.
'The proceeds are going to be mainly in purchasing of capital and investment into machinery for more automation in our production processes and including bringing higher efficiencies in the production process itself with robotics and automation in Computer Numerical Control (CNC) machining centres and so on," Wong said..
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