KUALA LUMPUR, Goldfinch Group Bhd, a gold jewellery and bullion retailer, is seeking a listing on Bursa Malaysia’s ACE Market to fund its expansion plans and strengthen its brand presence.
According to its draft prospectus, the proposed initial public offering (IPO) involves 112.5 million new shares and an offer for sale of 15.75 million existing shares, representing 28.5% of the company’s enlarged share capital.
Proceeds from the offer for sale will go to the company’s largest shareholder, Khoo Chin Huat, and his wife, Ng Soo Kim, who will trim their combined stake from 70% to 49% post-listing.
Goldfinch plans to channel funds from the IPO towards opening 17 new outlets, expanding its current network of 66 stores nationwide — 63 in Peninsular Malaysia and three in Sabah. The company also aims to boost brand awareness and customer engagement through targeted marketing initiatives, including digital campaigns, promotions, and participation in trade fairs.
Established in 2012 and headquartered in George Town, Penang, Goldfinch operates under the “Goldfinch Jewelry” brand, offering a variety of gold jewellery and investment-grade bullion products. For the financial year ended Dec 31, 2024 (FY2024), Goldfinch posted a net profit of RM5.58 million on revenue of RM111.08 million, with a profit margin of 5.03%.
The northern region contributed the largest share of FY2024 revenue at 48.52%, followed by the central (29.05%), southern (14.27%), eastern (4.07%), and Sabah (3.71%) regions. M&A Securities Sdn Bhd serves as the principal adviser, sponsor, underwriter, and placement agent for the IPO.
