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Yenher makes steady debut on Main Market

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The company’s share price opened at 99.5 sen, representing a 4.7% premium to its initial public offering (IPO) price of 95 sen.

PETALING JAYA: Yenher Holdings Bhd made a steady debut on the Main Market of Bursa Malaysia despite the lacklustre market condition.

Yenher’s group managing director Cheng Mooh Tat said that the listing of the company would open opportunities to tap into the capital market and utilise the proceeds for business expansion. For the IPO, Yenher has raised RM61.20mil from the issuance of 64.4 million shares. Besides utilising 50.6% of the proceeds to build a good manufacturing practice-compliant manufacturing plant, 15.9% and 27.3% of the proceeds are for the purchase of machinery as well as working capital respectively.

“We will also continue to research, develop and introduce new products to strengthen our product portfolio and to meet the changing demands of the livestock industry.“We intend to recommend and distribute a dividend of at least 40% of our annual profit to our shareholders,” Cheng said.

 

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