KUALA LUMPUR: Yenher Holdings Bhd plans to expand its footprint in overseas market such as Myanmar, Bangladesh and China within 24 months after its listing on Bursa Malaysia's Main Market on July 15.
Group managing director Cheng Mooh Tat said backed by the huge population in developing countries like Myanmar and Bangladesh, there was an advantage for Yenher to improve the livestock production in those countries.
"Although there is some political uncertainty in Myanmar in the past few months, we are closely monitoring the situation and will continue to assess the conditions before entering the market," he said at a virtual press conference in conjunction with the company's prospectus launch today.
Yenher manufactures and distributes animal health and nutrition products.
It also provides value-added diagnostic and material analysis services as well as complimentary consulting services for its customers.
On May 12, Yenher obtained the approval of the Securities Commission to list on the Main Market.
Its initial public offering (IPO) entails a public issue of 64.43 million new shares, of which 15 million shares are available for the public.
Another 15 million shares will be made available for eligible directors, employees and persons who have contributed to the success of the company and 34.43 million shares for Bumiputera investors.
The IPO also comprises an offer for sale of up to 41.76 million shares.
Of this, 3.07 million shares will be made available for application by Bumiputera investors while the remaining 38.69 shares by other institutional and selected investors.
The 106.19 million shares in total represent 35.4 per cent of the enlarged issued share capital of the company.
Proceeds from the IPO will substantially be earmarked for the construction of a new GMP-compliant manufacturing plant, acquisition of new machinery and equipment and working capital.
RHB Investment Bank Bhd is the sole principal adviser, underwriter and placement agent for Yenher's IPO and listing.