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EGH International Eyes MYR38 Million Via IPO, Reports MYR4 Million Fiscal Q1 Profit

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EGH International (KLSE:ECOGRP) seeks to raise 38.4 million ringgit via an initial public offering on the ACE Market of Bursa Malaysia, according to its Thursday prospectus.

The interior fit-out firm company's IPO comprises a public issue of 240 million new shares at an issue price of 0.16 ringgit per share, as well as an offer for sale of up to 120 million shares.

Aside from listing expenses, the proceeds will be used for the construction of new head office, warehouse and showroom expansion and working capital requirements.

The company will open applications for its IPO on Sept. 24, with applications closing on Oct. 5, according to its IPO timetable.

EGH International booked an attributable profit of 4.1 million ringgit in the fiscal first quarter ended June 30.

Earnings per share were 0.0041 ringgit, while revenue was 58.7 million ringgit for the period, according to an unaudited filing with Bursa Malaysia.

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