2 days Ago By Asila Jalil
KUALA LUMPUR: BMS Holdings Bhd has unveiled its prospectus ahead of its proposed initial public offering (IPO) on the ACE Market. The company is involved in retailing, wholesale and project sales of tiles and stone surfaces.It also offers bathware and kitchenware.
Its IPO entails the issuance of 364 million new ordinary shares and an offer for sale of 156 million existing shares via private placement. The company intends to use the IPO proceeds to expand its operations and facilities.This includes setting up of new retail showrooms in Seremban and Klang Valley, a new distribution centre in Klang Valley and acquiring new electric vehicle (EV) forklifts.
"We plan to expand our operations by setting up six additional retail showrooms in the southern and central regions where we already have retail showrooms. "This is mainly to build on our existing brand awareness and track record of our presence to provide more convenience and access for potential customers," it said in its prospectus. In the Klang Valley, the company plans to set up five new retail showrooms, each with an estimated average built-up area of between 5,000 sq ft and 15,000 sq ft.
It also wants to expand its fleet of EV forklifts by purchasing an additional 70 units on top of its existing 20 units. For the financial year 2024, the company posted a net profit of RM21.23 million on a revenue of RM293.
92 million.© New Straits Times Press (M) Bhd.
