KUALA LUMPUR: Unique Fire Holdings Bhd, which is en route to a listing on the ACE Market of Bursa Malaysia on Aug 5, is in search of to raise RM21.78mil from its preliminary public providing (IPO).

Unique Fire is concerned within the meeting, distribution and manufacture of lively fireplace safety programs, gear and equipment for the constructed surroundings.

“The IPO will raise approximately RM21.78mil, of which RM2.5mil has been earmarked for the expansion of manufacturing facilities and RM6mil for expansion of geographical coverage.

“Another RM5.3mil and RM4.58mil will be set aside for expansion of operational capabilities and working capital respectively. The remaining RM3.4mil will be utilised to fund the listing expenses,” Unique Fire stated in an announcement.

The IPO entails a public concern of 83.75 million new Unique Fire shares and a proposal on the market of 30.00 million current shares at a difficulty/supply worth of 26 sen per share.

Of the 83.75 million new shares, 20 million shares might be made accessible for utility by the Malaysian public, whereas eight million shares might be allotted for utility by eligible administrators and workers in addition to individuals who’ve contributed within the success of the group.

Another 5.75 million shares to chosen traders by means of personal placement whereas the remaining of fifty million shares Bumiputera traders accepted by the International Trade and Industry Ministry by means of personal placement.

Based on its enlarged issued share capital of 400.00 million shares and concern/supply worth of 26 sen per share, Unique Fire’s market capitalisation is arrived at RM104mil upon its listing on Bursa Securities.

Alliance Islamic Bank Bhd is their principal adviser, sponsor, sole underwriter and placement agent.