Guan Huat Seng Holdings Berhad (“GHS Holdings” or the “Company”), a distributor and retailer of food products and manufacturer of flavouring products based in Melaka, has received approval from Bursa Malaysia Securities Berhad (“Bursa Securities”) to list on the ACE Market of Bursa Securities.
With over four decades of established track record, GHS Holdings, through its subsidiaries Guan Huat Seng (Heng Kee) Sdn. Bhd. and GHS Food Industries Sdn. Bhd. (“Group”), has built a strong foundation in the distribution and retail of food products including shelf-stable and frozen seafood, flavouring products, dried food and snacks and general grocery products.
The Group holds HACCP and MeSTI certifications for the production of, among others, sauces, pastes and dried seasoning powder and Halal certification for its in-house manufactured flavouring products.
The Group serves wholesalers, retailers, food service operators, end consumers and food manufacturers across both domestic and foreign markets.
The Company’s Initial Public Offering (“IPO”) will involve a public issue of 120.00 million new ordinary shares (“Share(s)”), representing approximately 25.34% of the enlarged issued share capital of 473.50 million Shares and an offer for sale of 21.00 million existing Shares, representing approximately 4.44% of the enlarged issued share capital of 473.50 million Shares, as follows:
Public Issue
- Malaysian Public:
- 23.80 million new Shares (5.02% of the enlarged issued share capital) will be made available for application by the Malaysian public.
- Eligible Parties:
- 14.00 million new Shares (2.96% of the enlarged issued share capital) will be made available for application by the eligible directors, employees, and other persons who have contributed to the success of the Group.
- Private Placement to Selected Investors:
- 23.00 million new Shares (4.86% of the enlarged issued share capital) are reserved for private placement to selected investors.
- Private Placement to Selected Bumiputera Investors:
- 5.920 million new Shares (12.50% of the enlarged issued share capital) are reserved for private placement to Bumiputera investors approved by the Ministry of Investment, Trade and Industry.
Offer for sale
- 21.00 million existing Shares (4.44% of the enlarged issued share capital) are reserved for private placement to selected investors.
Mr. Yeo Tien Ee, Managing Director of Guan Huat Seng Holdings Berhad, commented:
“We look forward to embark on the next phase of our corporate journey through the IPO, a progression towards elevating our corporate profile. Over the years, our focus on quality and reliability has built our credibility and earned the trust of our customers.
The IPO will provide us with the platform to enhance our stature and increase market awareness of our products to assist us in expanding our customer base and reinforce our position as a comprehensive food distributor and one stop food ingredient provider supported by a diverse range of products sold under our own brands including “Heng’s”, “Makbest”, “SunCity”, “McCann”, “OceanStars”, “Sky Chef”, “GHSHK” and “Cai Yan”, third-party brands and without brands.
Proceeds from the IPO will primarily be utilised for the setting up of a New Integrated Complex and New Krubong Facility in Melaka, alongside working capital, marketing expenses and listing-related expenses. Such proceeds are expected to enhance operational efficiency, support the Company’s future growth, and further solidify its market position in Malaysia’s growing distributive trade of food and beverage (F&B) products industry.
TA Securities Holdings Berhad is the Principal Adviser, Sponsor, Underwriter, and Placement Agent for this IPO.
