Minox International Group Bhd board of directors during the company’s ACE Market debut earlier today.
As at 12.29pm, its share price has continued to rise to 36 sen, a 44% increase from the reference price. Its market capitalisation stood at RM129.6 million.The group raised RM22.5 million from the IPO, with 57.9% of the proceeds to be utilised towards business expansion. Managing director Cheong Chee Son said the group will introduce new vacuum fittings and valves tailored for semiconductor production lines and construct a fourth warehouse in Puchong to cater for higher sales volume.
For the six months ended June 30, 2023, the group achieved a net profit of RM4 million on the back of RM26.1 million revenue. About 92.7% of the group’s revenue was contributed by the sales to the food and beverages industry.