Econframe to raise RM18.2m from IPO

KUALA LUMPUR (Oct 5): ACE Market-bound total door system solution provider Econframe Bhd is aiming to raise RM18.2 million from its initial public offering (IPO) for expansion plans.

Econframe managing director Lim Chin Horng in a statement said the group is expected to improve its annual operating capacity by 35% for both its metal door frames and fire-resistant door sets, with an improved manufacturing workflow and upgraded manufacturing technology.

According to him, the group’s focus moving forward is to expand its capabilities to capture a larger market share by acquiring new customers as well as catering for larger orders from its existing pool of clients.

“Using the funds raised, we intend to acquire a new piece of land and subsequently construct a manufacturing plant to house all our facilities under one roof. This will significantly improve our operational efficiency and productivity as compared to having four separate factories,” he added.

Apart from that, the group will be investing in automation as a means to further improve its operating efficiency.

“We plan to accomplish this by equipping our facilities with advanced robotic technology,” he said.

The group is also looking into expanding its production capabilities to include wooden doors, which are currently sourced from third-party suppliers.

Of the total funds raised, RM5 million would be allocated for land acquisition and construction of the new manufacturing facility, followed by RM4 million for the investment in manufacturing automation, RM6.2 million for working capital needs and the remaining RM3 million for estimated listing expenses.

The IPO exercise entails an issuance of 65 million new shares and an offer for sale of 32.5 million existing shares at an issue price of 28 sen per share.

Econframe is slated to be listed on Oct 27.

From theedge

This post has been edited by sl3ge: Oct 5 2020, 09:19 PM

not much interest for this IPO?
Isaham rates this 4/4

There is some "rumour" about this Econframe ipo,
can someone share it?

i thought you heard the rumor ?

the person say "rumor", but didnt say what "rumor"
Anyone who know it pls share share

This post has been edited by sl3ge: Oct 9 2020, 10:01 AM

Just applied this IPO

what rumor??
sharing is caring

so we all heard a rumour that there is a rumour about this IPO.
or maybe that person did - so that person also dunno what rumour.
we heard a rumour that someone heard a rumour that there is a rumour.

but then, should we buy on rumours?

common saying is buy the rumour , sell the news...but for ipo is like hitting lottery anyways

https://klse.i3investor.com/m/blog/12stockt...h1534526531.jsp

Can someone tell me what is the rumour the author above is referring to? Stupid guy, say rumour but don't tell us what it is. Must be some industry insider know a thing or two.

How to check isit oversubscribed or still guaranteed available?

Need to wait ballot day which is 15oct.

And there is no guarantee get for Ipo.

You can pray

They're going to raise ~RM19m worth of IPO. With the market volume and profit from gloves, this will be an easy oversubscription

If 1000 person try RM19,000 each, this will be fully subscribed and we all know that

1) There will be more than 1000 subscribers
2) Higher amount to apply

no harm to apply to try your IPO luck..

oversubscribed by 40.84x

Allotted shares quite little. No meat.

https://www.tiih.com.my/content/press_relea...isAllotment.pdf

thanks !.. hope get something from this IPO..

Good thing is that oversubscribed rate can consider high lah, also chance to get the ticket have 20%+ in middle range.

Results out. Got 8000 via M2U, after being unsuccessful in Samaiden, Southern Cable and Aneka Jaringan. Hopefully can make some money