HSS Holdings Berhad (“HSS” or the “Group”), a bakery products player principally involved in the sourcing of bakery products, trading of bakery and other products, and manufacturing of bakery products, today proudly launched its prospectus in conjunction with its upcoming Initial Public Offering (“IPO”) on the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Securities”).
Left to Right), Mr. Goh Chen Ann, Executive Director of HSS Holdings Berhad, Mr. Goh Chen Chang, Managing Director of HSS Holdings Berhad, Datuk Bill Tan, Executive Director of M & A Securities Sdn. Bhd., Mr. Gary Ting, Head, Corporate Finance of M & A Securities Sdn Bhd
The IPO comprises a public issue of 75.0 million new shares and an offer for sale of 52.5 million existing shares. Based on the IPO price of RM0.18 per share, the public issue is expected to raise gross proceeds of RM13.5 million for the Group.
Proceeds from the public issue will be utilised as follows:
•
RM2.57 million for capital expenditure for the Group’s Manufacturing Facilities;
•
RM4.50 million for the repayment of bank borrowings;
•
RM2.93 million for working capital; and
•
RM3.50 million for the defrayment of listing expenses.
HSS is principally involved in the sourcing of bakery products, trading of bakery and other products, as well as the manufacturing of bakery products. With business roots dating back to 2004, the Group has built more than 20 years of operating experience in the bakery products market and established a broad market presence through its extensive network of wholesalers, distributors and retailers. Its portfolio comprises more than 6,000 SKUs across bakery (cakes, biscuits, cookies and snacks) and other products, marketed under its own brands such as SINAR®, 合顺成饼家® and Sa1ko®, while also supplying customer-branded and unbranded products to serve diverse market needs.
The Group intends to utilise the IPO proceeds to strengthen its production capabilities and operational efficiency. Planned capital expenditure includes installation of a new biscuit production line, enhancements to its existing cookies production line, backend automation for selected production processes, and a new automated cake production line. These initiatives are expected to enhance manufacturing efficiency, expand production capacity and support the Group’s continued product development efforts.
Mr. Goh Chen Chang, Managing Director of HSS Holdings Berhad, commented, “The launch of our prospectus marks a significant milestone in HSS’ corporate journey as we move closer to our listing on the ACE Market. Over the years, we have built a solid foundation in the bakery products market through our wide product range, established distribution network and long-standing customer relationships. Through this IPO, we aim to strengthen our production capabilities, improve operational efficiency and support the continued growth of our business.”
Datuk Bill Tan, Executive Director of M &
A Securities Sdn. Bhd., said, “HSS has established a strong foothold in the domestic bakery
products market, supported by its extensive distribution reach, diversified
product portfolio and more than two decades of operating experience. The
Group’s planned investments in manufacturing facilities and automation are
expected to strengthen its operational foundation and support its next phase of
growth as a listed company.”
M & A Securities
Sdn. Bhd. is the Principal Adviser, Sponsor, Underwriter, and Placement Agent for
this IPO.
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