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
Total 41,079 100.0  

* 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.