Friday 29 Mar 2024
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KUALA LUMPUR (Jan 19): KNM Group Bhd's board of directors has approved the proposed listing of its indirect wholly-owned subsidiaries on Catalist.

FBM Hudson Italiana SpA and FBM-KNM FZCO, collectively known as the FBM group, will be listed on the sponsor-supervised board of the Singapore Stock Exchange via an initial public offering (IPO), KNM said in a bourse filing on Wednesday (Jan 19).

"The proposed sponsor for the proposed flotation is PrimePartners Corporate Finance Pte Ltd (PPCF), who will act as the full sponsor, manager, underwriter and placement agent. PPCF is a boutique corporate finance firm headquartered in Singapore. It is licensed by the Monetary Authority of Singapore to provide financial advisory and capital raising services," said KNM. 

The company added that it will release further details on the IPO and other developments after the prospectus for the proposed listing is finalised.

At noon break, KNM settled unchanged at 13.5 sen, giving it a market capitalisation of RM478.7 million.

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