PETALING JAYA: HPP Holdings Bhd is heading for listing on the ACE Market, with an initial public offering consisting the public issue of 88.7 million shares and an offer for sale of 20 million shares, totalling 108.7 million shares.
HPP Holdings is involved in the printing. production as well as sales and marketing of paper-based packaging, both corrugated and non-corrugated, and trading and production of rigid boxes.
According to the group’s prospectus exposure, part of its future plans and business strategies include increasing its printing capacity by acquiring two additional standard format printing machines, expanding its rigid box business by acquiring an additional rigid box production line, and increasing its marketing initiatives to expand its customer base in both local and overseas markets.
Proceeds from the IPO will be used for capital expenditure and expansion, repayment of bank borrowings, working capital as well as sales and marketing expenses.
For FY19 ended May 31, the group posted a net profit of RM13.3 million, on RM82.7 million in revenue.
Some 94.36% of the group’s revenue was contributed by sales from Malaysia, while the remainder was accounted for by sales from Singapore, Thailand, Myanmar, the US, Germany and Australia.
HPP’s substantial shareholders are Aurora Meadow (67.02%), Kok Hon Seng (7.7%), Lau Tee Tee @ Lau Kim Wah (2.57%), Ng Soh Hoon (7.97%), Chong Fea Chin (3.99%) and Ang Poh Geok (10.75%).