Listing Detail:
Listing Sought: ACE Market
Issue Price: RM 0.29

Dates:
Offer Period Open: 13 Feb 2018
Offer Period Close: 22 Feb 2018
Tentative listing date: 06 Mar 2018

Number of shares:
Public Issue: 100,000,000
Offer for Sale: 50,000,000
Private Placement: 60,000,000
 

Stock Code: WEGMANS

Official Announcement

INITIAL PUBLIC OFFERING ("IPO") OF 150,000,000 ORDINARY SHARES IN WEGMANS HOLDINGS BERHAD ("WEGMANS") ("SHARE(S)") IN CONJUNCTION WITH THE LISTING OF AND QUOTATION FOR THE ENTIRE ENLARGED SHARE CAPITAL OF WEGMANS ON THE ACE MARKET OF BURSA MALAYSIA SECURITIES BERHAD COMPRISING:

(A) A PUBLIC ISSUE OF 100,000,000 NEW SHARES ("ISSUE SHARE(S)") IN THE FOLLOWING MANNER:

(I) 25,000,000 ISSUE SHARES MADE AVAILABLE FOR APPLICATION BY THE MALAYSIAN PUBLIC;

(II) 15,000,000 ISSUE SHARES MADE AVAILABLE FOR APPLICATION BY OUR ELIGIBLE DIRECTORS AND EMPLOYEES AS WELL AS PERSONS WHO HAVE CONTRIBUTED TO THE SUCCESS OF WEGMANS AND ITS SUBSIDIARY;

(III) 10,000,000 ISSUE SHARES MADE AVAILABLE FOR APPLICATION BY WAY OF PRIVATE PLACEMENT TO INSTITUTIONAL AND IDENTIFIED INVESTORS; AND

(IV) 50,000,000 ISSUE SHARES MADE AVAILABLE FOR APPLICATION BY WAY OF PRIVATE PLACEMENT TO IDENTIFIED BUMIPUTERA INVESTORS APPROVED BY THE MINISTRY OF INTERNATIONAL TRADE AND INDUSTRY AND

(B) AN OFFER FOR SALE OF 50,000,000 EXISTING SHARES ("OFFER SHARE(S)"), MADE AVAILABLE FOR APPLICATION BY WAY OF PRIVATE PLACEMENT TO INSTITUTIONAL AND IDENTIFIED INVESTORS AT AN IPO PRICE OF RM0.29 PER ISSUE SHARE/ OFFER SHARE, PAYABLE IN FULL UPON APPLICATION.

Company Overview

Wegmans Group was incorporated in Malaysia under the Act on 22 February 2017 as a private limited company under the name of Wegmans Holdings Sdn Bhd. Subsequently on 29 May 2017, the company was converted into a public limited company under the name of Wegmans Holdings Berhad to embark on the Listing of our Group on the ACE Market of Bursa Securities. The company's principal activity is investment holding.

Wegmans Group are a home furniture manufacturer, principally involved in design, manufacture and sale of home furniture products. Their customers are mainly wholesalers, retailers, chain stores and traders.

Most of the home furniture products are exported. Since the commencement of business operations in 1999, Wegmans has exported home furniture products to 75 countries globally, which include, amongst others, Japan, US, Australia, Singapore, Korea, Canada, UK and European countries.
 

Address & Contact:

Lot PTD 3504, Jalan Bakri, Batu 7 1/2, 84200 Muar,
Johor, Malaysia.
Tel : +606 986 7897
Fax : +606 986 5117
Email :  info@wegmans.com.my
Website: http://wegmans.com.my/

News: Wegmans Holdings to Raise RM29m in IPO

KUALA LUMPUR: Furniture exporter Wegmans Holdings Bhd aims to raise RM29 million from its initial public offering (IPO) on Bursa Malaysia next month.

In a language exclusive interview here recently, Wegmans executive director Collin Law Kok Lim said the group intends to channel most of the funds raised to expanding its factory in Muar, Johor.

"We are targeting to raise RM29 million from the IPO. From that total, RM22 million will go to expand our factory, upgrade machinery and build hostels to house foreign workers. The remaining RM7 million is for working capital and listing expenses," he said.

Wegmans makes and exports dining tables and chairs, living room furniture, bedding and cupboards.

"We're a mid-size manufacturer chalking up around RM85 million export sales per year. We ship out most of our furniture in flat packs to Japan, the US, Australia and the UK," said Law.

Wegmans’ IPO involves the public issue of 100 million new shares, of which 25 million shares will be made available for Malaysian public, 15 million for eligible directors, employees and persons who have contributed to the group and its subsidiary’s success.

Meanwhile, the remaining 10 million shares will be made available by way of private placement to institutional and identified investors, and 50 million shares to identified bumiputra investors approved by the Ministry of International Trade and Industry.

There will also be an offer-for-sale of 50 million of existing shares via private placement.