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KUALA LUMPUR, Dec 7 (Bernama) — CPE Know-how Bhd made its debut on Bursa Malaysia’s Principal Market at this time at 90 sen, a reduction of 17 sen in comparison with its preliminary public providing (IPO) worth of RM1.07.
On the opening bell, the engineering assist companies supplier making precision-machined elements and parts and offering pc numerical management machining companies noticed 6.31 million shares traded.
CPE Know-how government director and chief government officer Lee Chen Yeong mentioned the IPO proceeds might be used to buy new equipment and gear and the relocation of present ones.
“A portion of the proceeds can even be allotted for the acquisition of uncooked supplies to be stocked on-site to make sure a steady provide.
“By investing in these efforts, we might be in a greater place to seize an even bigger market share, particularly with the projected progress of the engineering supporting trade in Malaysia within the coming years,” he advised reporters after the group itemizing right here at this time.
CPE Know-how raised RM179.58 million from the IPO by way of the issuance of 167.83 million new abnormal shares, following an oversubscription fee of 17.69 instances.
Lee added that CPE Know-how is planning to buy land in Ulu Tiram, Johor to construct a brand new plant, with an IPO allocation of RM69.60 million for the mission.
The brand new plant, with a complete built-up space of 236,948 sq. ft, will be used for the group’s manufacturing actions, he mentioned.
Its order guide as at Oct 23, 2023 stood at RM69.27 million, Lee mentioned.
Citing a report by unbiased market researcher Protégé Associates Sdn Bhd, Lee mentioned Malaysia’s engineering supporting trade is forecast to develop to RM9.98 billion in 2023 from RM9.37 billion in 2022.
“(The trade in Malaysia) will additional increase to RM13.88 billion in 2027 at an compound annual progress fee of 8.2 per cent with progress anticipated to be spurred by know-how development and in end-user markets enlargement,” he added.
— BERNAMA
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