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,Left to right: Ean Yong Hien Chal, substantial shareholder of Orgabio Holdings Bhd; Ean Yong Hen Loen, executive director of Orgabio; Gary Ting, head of corporate finance of M&A Securities Sdn Bhd; Datuk Ean Yong Tin Sin, executive deputy chairman of Orgabio; Datuk Bill Tan, managing director of corporate finance of M&A Securities; Ean Yong Hien Voon, CEO/executive director of Orgabio; and Ean Yong Han Khian, Substantial Shareholder of Orgabio

KUALA LUMPUR: Instant beverage premix manufacturer Orgabio Holdings Bhd plans to fund its business expansion with a targeted RM29.97mil in proceeds from its listing on the ACE Market of Bursa Malaysia.

The company is scheduled to make its debut on the market on July 5, 2022.

In statement, it said RM16mil of the proceeds will finance the construction of a new factory in Semenyih as it expands its manufacturing capacity for future business growth.

Orgabio executive deputy chairman Datuk Ean Yong Tin Sin said the increased capacity will enable the company to take on new customers and more large orders arising from its plans to grow the customer base in the direct selling segment, expanding export sales and expanding the range of product offerings and market presence of its house brands.

“We plan to grow our customer base in the direct selling segment by securing more local and overseas direct selling companies as our customers as direct selling companies are able to provide us with high manufacturing volumes, which will in turn enhance the growth of our financial performance and the sustainability of our Group.

“By engaging our instant beverage premix manufacturing services, these direct selling companies can leverage on our experience and insights on various blends, taste profiles and preferences which are specific to their target markets to launch new products under their brands," he said.

He noted that the company's sales to direct-selling companies contributed between 61.4% and 80.6% to overall revenue over the past four financial years.

The company had nine local direct-selling companies as customers as at May 17, 2022.

As for the remaining IPO proceeds, RM8.14mil will go towards working capital requirement, RM2.23mil will fund the purchase of new machinery and RM3.6mil will pay for listing expenses.

Ean Yong said Orgabio is passing on the increase in cost of supplies to its customers by progressively increasing the selling price to improve gross profit margins.

“We provide our customers with three months advanced notice on the changes in prices and upon agreement, new purchase orders with the adjusted pricing will be issued for future orders,” he added.

Orgabio is issuing 96.7 million new shares representing 39% of the enlarged share capital at an issue price of 31 sen per share.

Of the issue, 12.4 million new shares will be made available to the Malaysian public, 6.2 million shares to its eligible employees and persons while the remaining 78.1 million new shares are earmarked for private placement to Bumiputera investors and selected investors, including its cornerstone investor.

环球UG声明:该文看法仅代表作者自己,与本平台无关。转载请注明:ERC20换TRC20(www.u2u.it)_Orgabio expects RM29.97mil in proceeds from ACE Market IPO
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