KUALA LUMPUR: Volcano Bhd, which is primarily involved in the manufacturing of nameplates and plastic injection moulded parts via its subsidiaries, is seeking to list on the ACE Market of Bursa Malaysia via an initial public offering (IPO) involving 300 million shares. Of the IPO shares, 41.25 million will be made available to the public, while another 41.25 million will be allocated to its eligible directors, key senior management personnel, employees and business associates. In addition, 114.375 million IPO shares will be allotted by private placement to identified investors, while 103.125 million will be for identified Bumiputera investors. The remaining 17.5% stake is held by its chief financial officer and executive director Khoo Boo Wui. In FY17, its net profit was RM8.31 million on a revenue of RM59.66 million, and in FY16, it was RM7.17 million on a revenue of RM62.82 million.

Source: The Edge Markets May 23, 2019 00:54 UTC