Thursday 28 Mar 2024
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KUALA LUMPUR (Dec 19): Newly-listed end-to-end animal health solution provider, distributor and supplier of food ingredients Rhone Ma Holdings Bhd plans to focus on the regional market, mainly Indonesia, Thailand, Vietnam and the Philippines.

Its managing director Dr Lim Ban Keong said besides that, one of Rhone Ma's priorities is to expand its product range, which consists of multinational company suppliers, both food ingredients and animal health, as well as its products.

Rhone Ma had an oversubscription rate 22.46 times for its public portion during its initial public offering (IPO), and Public Investment Bank Bhd is the principal adviser, sole underwriter and sole placement agent for Rhone Ma's IPO.

The IPO exercise entails a public issue of 42.122 million new ordinary shares at an IPO issue price of 75 sen per share.

The IPO proceeds — approximately RM31.59 million — will be utilised for its capital expenditure, which includes the construction of a new GMP-compliant plant in Nilai, Negeri Sembilan, and purchase of machineries and equipment as well as the construction of a new warehouse in Kapar, Klang.

At 9.42am, shares in Rhone Ma were trading at 82 sen.

 

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