IPO Watch: TSA Group Bhd

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KUALA LUMPUR (Dec 27): TSA Group Bhd is pricing its shares at 55 sen apiece, seeking to raise some RM42.53 million through an initial public offering (IPO) on Bursa Malaysia’s ACE Market.

At 55 sen per share, the industrial hardware products and stainless steel pipes and metal products manufacturer is expected to have a market capitalisation of RM170.12 million after listing, valuing the company at about 4.23 times its price-earnings multiple — based on a net profit of RM39.85 million for the financial year ended Dec 31, 2022 (FY2022).

At the prospectus launch on Wednesday, the group said RM42.53 million of the proceeds will be raised from the issuance of 77.33 million new shares, representing 25% of its expanded share capital of 309.3 million shares.

Prospectus: Announcement details (bursamalaysia.com)



Source: The Edge

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