PETALING JAYA: Polymer Link Holdings Bhd, a regional and international plastic manufacturer specialising in plastic powder and colour masterbatch for rotational moulding applications, today launched the prospectus for the group’s listing on the ACE Market of Bursa Malaysia Securities.
Established in 2011 and headquartered in Klang, Selangor, the group operates across Malaysia, the Philippines, India, the United States and Australia, supplying an international customer base spanning over 10 countries.
Polymer Link will raise about RM24.3 million via the issuance of 97,145,700 new shares at an IPO price of 25 sen per share (public issue). Of the IPO proceeds, RM5 million will be for the expansion of its Australian operations; RM6.2 million for working capital requirements; RM3.6 million for capital expenditure; RM2 million for repayment of bank borrowings; and RM7.4 million for estimated listing expenses.
Executive vice-chairman/president and group CEO Koh Song Heng said, “This IPO is a defining moment for Polymer Link. It signifies our transition from a regional player to a global player in the rotational moulding supply chain. The funds raised will be channelled towards expanding our footprint, enhancing our innovation capabilities, and strengthening our ability to serve customers across different geographical markets. We are excited to move forward into this next phase of growth.”
The group, through Polymer Link Malaysia, started manufacturing operations in 2014. The group made its debut on the LEAP Market of Bursa Securities in April 2018 before voluntarily delisting in December 2020 as part of a corporate streamlining exercise. Over the years, it steadily expanded its market presence across Southeast Asia, India, the United States and Australia, building a reputation for quality, innovation and responsiveness in a specialised segment of the polymer industry.
Applications for the public issue shares are open until 5pm on Nov 11. Polymer Link is scheduled to be listed on the ACE Market on Nov 25.
Upon listing, Polymer Link will have a market capitalisation of RM140 million based on the IPO price of 25 sen per share and its enlarged issued share capital of 560 million shares.
Hong Leong Investment Bank Bhd is the principal adviser, sponsor, sole placement agent and sole underwriter for the IPO while DWA Advisory Sdn Bhd is the financial adviser.
