Unique Fire debuts on ACE Market at 21 sen
KUALA LUMPUR: Unique Fire Holdings Bhd made its debut on the ACE Market of Bursa Malaysia at 21 sen today from its initial public offering (IPO) price of 26 sen.
Unique fire is an investment holding company involved in the assembly, distribution and manufacture of active fire protection systems, equipment and accessories for the built environment.
“Our listing today marks a momentous milestone in our journey towards becoming the preferred brand of fire protection equipment within the region and beyond. Correspondingly, we have laid out strategic and exciting plans to spearhead our growth and improve our market penetration in line with our expansion of operation capabilities.
“We trust the IPO will be able to unleash Unique Fire’s full potential and to ensure that all our strategies are executed as planned,” managing director Liew Sen Hoi said in a statement.,
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The listing exercise has raised proceeds of RM21.78mil, of which RM2.50mil has
been earmarked for the expansion of manufacturing facilities and RM6mil for expansion of its geographical coverage.
Another RM5.3mil and RM4.58mil will be set aside for expansion of operational capabilities and working capital respectively. The remaining RM3.4mil will be utilised to fund the listing expenses.
Alliance Islamic Bank Bhd is the principal adviser, sponsor, sole underwriter and placement agent for Unique Fire’s listing exercise