If you list tomorrow willl be ONGGGGGGGGGGGG
Sabah-based Focus Lumber Bhd, which aims to be listed on the main market of Bursa Malaysia Securities by the end of next month, expects to raise RM7.32 million from the exercise. The company is a plywood, veneer and laminated veneer lumber (LVL) manufacturer. Through the Initial Public Offering (IPO) exercise, Focus Lumber will be making available 6.9 million new shares at 60 sen per share, with 6.0 million offered for public subscription and the remaining 900,000 for application by eligible employees and those who have contributed to the success of the Focus Lumber Group. Another 5.3 million new shares will be made available via private placement to selected Bumiputera investors, its Managing Director Lin Fong Ming said during the underwriting agreement signing ceremony here, today. The underwriting agreement is in conjunction with the company's listing on Bursa Malaysia. Bank Islam Malaysia Bhd has been appointed as the managing underwriter and BIMB Securities as underwriter. Bank Islam is also the principal adviser and placement agent for the listing exercise. Lin represented Focus Lumber at the inking of the agreement and Managing Director Datuk Seri Zukri Samat for Bank Islam. BIMB Securities was represented by its chief executive officer, Rashid Ismail. "The expected total proceeds of RM7.32 million from our IPO has been mainly earmarked for general working capital," said Lin. The founders of Focus Lumber - which includes Lin - are from Taiwan, and started business in Sabah where they set up a plywood manufacturing mill in Keningau district in 1990. - Bernama