Based on the IPO Price, the estimated gross proceeds arising from the Public Issue of RM41.08 million shall accrue entirely to our Company and are planned to be utilised within 24 months from the date of our Listing in the following manner:-
|Proposed Utilisation||RM’000||%||Estimated timeframe for use
(from the listing date)
|Expansion of existing manufacturing facility and purchase of new equipment and machineries||15,000||36.5||Within 24 months|
|Repayment of bank borrowings||15,000||36.5||Within 6 months|
|Working capital requirements||7,079||17.2||Within 24 months|
|Estimated listing expenses||4,000||9.8||Immediately|
* Further details of the utilisation of proceeds are set out in Section 3.10 from page 30 to page 34 of Chin Hin Group Berhad’s Prospectus dated 18 February 2016.