Based on the IPO Price, gross proceeds of RM 21,300,000 will be raised from our IPO. The proceeds shall accrue entirely to our Company and are intended to be utilised in the following manner:
|Purposes||RM'000||%||Estimated Timeframe for use (from the listing date)|
|(i) Acquisition of warehousing facilities including land and building, in Sibu, Miri and Kuching, Sarawak||9,000||42.26||Within 24 months|
|(ii) Construction of new warehousing facility in Kota Kinabalu, Sabah||2,000||9.39||Within 18 months|
|(iii) Purchase of equipment for the following:|
|(a) new warehousing facility in Kota Kinabalu, Sabah||1,000||4.69||Within 18 months|
|(b) three (3) production lines for bakery products in Sabah||1,000||4.69||Within 12 months|
|(c) a production line for bakery products in Sarawak||1,000||4.69||Within 12 months|
|(iv) Working capital (1)||4,700||22.07||Within 12 months|
|(v) Estimated listing expenses (1)||2,600||12.21||Upon Listing|
|Total gross proceeds||21,300||100.00|
(1) If the actual listing expenses are higher than budgeted, the deficit will be funded out of the portion allocated for working capital. Conversely, if the actual listing expenses are lower than budgeted, the excess will be utilised for working capital purposes.
* Further details of the utilisation of proceeds are set out in Section 3.6 from page 24 to page 25 of Kim Teck Cheong Consolidated Berhad’s Prospectus dated 28 October 2015.