Malaysian tube maker & steel processor Leform’s, which is en route to be listed on Bursa Malaysia's ACE Market on Nov 30, shares public under its initial public offering have been oversubscribed by 1.42 times. Leform received a total of 5,285 applications from the Malaysian public for 179.51 million shares. Upon listing, the company will have a market capitalisation of MYR 340.6 million, based on an enlarged share capital of 1.48 billion shares, at an issue price of 23 sen. Leform aims to raise MYR 71.5 million via the IPO exercise for expansion expenses, working capital, and repayment of bank borrowings. Leform’s Managing Director Mr Law Kok Thye said “We are encouraged by the positive response received for our IPO. With the incoming proceeds, we are set to embark on our growth plans to expand our operations. Looking at the bigger picture, the roll-out of mega infrastructure projects, along with government initiatives to boost demand for residential properties, bodes well for the steel industry. This is further supported by rising demand for automotive vehicles and locally manufactured furniture. With that in mind, we plan to allocate a large portion of our IPO proceeds for the construction of a new headquarters, warehouse storage facilities and workers’ accommodation. The new facilities would boost the company's storage space capacity, thus allowing greater production output and, in turn, higher operational efficiency.” Mr Law added "At the same time, we are also able to introduce a new product range of thicker gauge pipes to cater for diverse needs of our prospective and existing customers.” Serendah Selangor based Leform was incorporated in Malaysia in 1995 as a private limited company, and was subsequently converted into a public limited company on 14 January 2022 to facilitate listing on the ACE Market. Leform is involved in the manufacturing of and trading in steel products likeRound Steel PipesSteel Hollow SectionsOval & Ellipse Steel PipesGate Channel, Trolley Track & U-ChannelGuardrailsSlitted Steel Coils
Malaysian tube maker & steel processor Leform’s, which is en route to be listed on Bursa Malaysia's ACE Market on Nov 30, shares public under its initial public offering have been oversubscribed by 1.42 times. Leform received a total of 5,285 applications from the Malaysian public for 179.51 million shares. Upon listing, the company will have a market capitalisation of MYR 340.6 million, based on an enlarged share capital of 1.48 billion shares, at an issue price of 23 sen. Leform aims to raise MYR 71.5 million via the IPO exercise for expansion expenses, working capital, and repayment of bank borrowings. Leform’s Managing Director Mr Law Kok Thye said “We are encouraged by the positive response received for our IPO. With the incoming proceeds, we are set to embark on our growth plans to expand our operations. Looking at the bigger picture, the roll-out of mega infrastructure projects, along with government initiatives to boost demand for residential properties, bodes well for the steel industry. This is further supported by rising demand for automotive vehicles and locally manufactured furniture. With that in mind, we plan to allocate a large portion of our IPO proceeds for the construction of a new headquarters, warehouse storage facilities and workers’ accommodation. The new facilities would boost the company's storage space capacity, thus allowing greater production output and, in turn, higher operational efficiency.” Mr Law added "At the same time, we are also able to introduce a new product range of thicker gauge pipes to cater for diverse needs of our prospective and existing customers.” Serendah Selangor based Leform was incorporated in Malaysia in 1995 as a private limited company, and was subsequently converted into a public limited company on 14 January 2022 to facilitate listing on the ACE Market. Leform is involved in the manufacturing of and trading in steel products likeRound Steel PipesSteel Hollow SectionsOval & Ellipse Steel PipesGate Channel, Trolley Track & U-ChannelGuardrailsSlitted Steel Coils
