RT Pastry Holdings Bhd (RT Pastry) has signed an underwriting agreement with KAF Investment Bank Bhd for its initial public offering (IPO) and planned listing on Bursa Malaysia’s ACE Market.
From left: Leou Thiam Lai, Independent Non-Executive Chairman of RT Pastry Holdings; Lu Chun-Neng, Executive Director cum Group CEO ; Rohaizad Ismail, CEO of KAF Investment Bank; Ahmad Fazlee Aziz, Head of Corporate Finance.
The pastry and bakery products manufacturer is expected to be listed on the ACE Market by the second quarter of this year.
In a statement, the group said the IPO involves the issuance of 91.54 million new ordinary shares, representing about 27% of its enlarged share capital.
Of the new shares, 16.96 million will be offered to the Malaysian public, while 6.78 million will be allocated to eligible directors, employees and contributors.
A further 42.38 million shares will be placed to selected Bumiputera investors approved by the Investment, Trade and Industry Ministry, while 25.42 million shares will be offered to institutional and selected investors.
Executive director and group CEO Lu Chun-Neng said the IPO will provide the company with a platform to expand its retail presence and upgrade its manufacturing capabilities.
He added that the listing will support the group’s efforts to continue delivering quality products while strengthening its long-term growth strategy.
RT Pastry said proceeds from the IPO will be used to open new outlets, purchase machinery and equipment, and repay bank borrowings, which are expected to improve operational efficiency and support expansion plans.
KAF Investment Bank will act as the principal adviser, sponsor, underwriter and placement agent for the IPO exercise.
