The listing exercise has successfully raises proceeds of RM22m
by S BIRRUNTHA / Pic by TMR
UNIQUE Fire Holdings Bhd debuts on the ACE Market of Bursa Malaysia Securities Bhd at 21 sen today, from its IPO price of 26 sen.
About 5.41 million shares were traded at the opening bell.
The listing exercise has successfully raised proceeds of RM21.78 million, of which RM2.5 million has been earmarked for the expansion of manufacturing facilities and RM6 million for expansion of its geographical coverage.
Another RM5.3 million and RM4.58 million will be set aside for expansion of operational capabilities and working capital respectively.
The remaining RM3.4 million will be utilised to fund the listing expenses.
ED Datuk Marcus Liew said the company is planning to set up two additional expansion lines for fire extinguishers, which he believed will be able to boost production by an additional 470,000 fire extinguishers for the year.
“We will get our fire extinguishers certified by British standards and export them to Hong Kong and the Middle East, and distribute them to countries which can accept these standards,” he said during the listing ceremony today.
Meanwhile, MD Liew Sen Ho said the listing marks a momentous milestone in the group’s journey towards becoming the preferred brand of fire protection equipment within the region and beyond.
He added that correspondingly, the group has laid out strategic and exciting plans to spearhead growth and improve the group’s market penetration in line with its expansion of operational capabilities.
“The listing will be able to unleash Unique Fire’s full potential and ensure that all our strategies are executed as planned,” he noted.
Unique Fire started in 1997 as a distributor of fire protection systems, equipment and accessories.
The group has since expanded its activities to include the assembly and manufacture of active fire protection systems, equipment and accessories meant for the built environment.
The expanded activities also encompass the distribution of custom graphics designed fire extinguishers and other active fire protection systems, equipment and accessories and other related services.
Unique Fire’s listing was the 23rd on Bursa Malaysia and the 16th on the ACE Market for this year.
Alliance Islamic Bank Bhd is the principal advisor, sponsor, sole underwriter and placement agent for Unique Fire’s listing exercise.