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BMS Holdings Berhad Sets To Raise RM80.08 Million From Ace Market IPO Exercise
The IPO will comprise a public issue of 364.00 million new shares ("Issue Shares") and an offer for sale of 156.00 million existing shares ("Offer Shares"), collectively representing approximately 33.77% of BMS Holdings' enlarged number of issued shares of 1.54 billion upon listing.
Based on the IPO price of RM0.22 per share and its enlarged number of issued shares of 1.54 billion, BMS Holdings' market capitalisation upon listing will be approximately RM338.80 million.
Based in Johor, the company is involved in the retail, wholesale, and project sales of tiles and stone surfaces, including porcelain and ceramic tiles, natural and engineered stones, and mosaic tiles. BMS Holdings also supplies complementary bathware and kitchenware products.
BMS Holdings intends to use 42.8% or RM34.3 million of the proceeds to expand its retail and distribution network, which includes establishing new showrooms in Seremban, Selangor and Kuala Lumpur, as well as a new distribution centre in the Klang Valley.
