Furniture designer and manufacturer Mobilia Holdings Bhd is looking to list on the ACE Market of Bursa Malaysia, with a public issue of 60 million new shares, and offer for sale of 40 million shares by way of private placement to selected bumiputra investors.
The Johor-based furniture company disclosed that the proceeds raised from the listing will be used towards the construction of the subsequent phase of its new factory premises which was completed in January this year. Aside from that, the group has allocated the proceeds from the listing for the purchase of machinery within 24 months of the exercise, working capital within one month and to defray the listing expenses.
For the financial year ended Dec 31, 2019, the group reported a revenue of RM75.59 million and a profit after tax of RM8.42 million.