Food distributor Guan Huat Seng Holdings Bhd is seeking to raise RM30 million at an issue price of 25 sen per share, valuing the group at about RM118 million upon its planned listing on the ACE Market of Bursa Malaysia. The group's initial public offering (IPO) comprises the issuance of 120 million new shares, alongside an offer for sale of 21 million existing shares, bringing its enlarged share capital to 473.5 million shares, according to its prospectus. Of the new shares, 23.8 million shares are allocated to the Malaysian public via balloting, while 14 million shares are reserved for eligible directors, employees and contributors. A further 82.2 million shares will be placed out to selected investors and government-approved Bumiputera investors, while the offer for sale of 21 million shares will also be undertaken via private placement. Guan Huat Seng is primarily involved in the distributive trade of food and beverage products, including shelf-stable and frozen seafood, flavouring products, dried foods, snacks and general groceries.

Source: New Strait Times January 05, 2026 05:23 UTC