Life Water Berhad debuted as a public listed company on the Main Market of Bursa Malaysia Securities Berhad with the shares opening at the price of RM0.77 representing a 18.5% premium over its issue price of RM0.65 per share, with an opening volume of 15.9 million shares as at 9:00 a.m.

The Company successfully raised RM63.42 million through a public issuance of 97,563,000 new ordinary shares, priced at RM0.65 each. From the total proceeds, Life Water has allocated 30.0% or RM19.0 million to set-up an additional drinking water production line at its Sandakan Sibuga Plant 1, 18.9% or RM12.0 million for purchasing a new drinking water manufacturing line at Sandakan Sibuga Plant 2, and 19.9% or RM12.6 million will go toward setting up a second distribution centre in Sandakan. Furthermore, 15.2% or RM9.6 million is designated for expanding the existing plastic packaging facilities in Kota Kinabalu. The remaining proceeds of 6.6% and 9.5% or RM4.2 million and RM6.0 million, respectively, are allocated for working capital and to defray listing expenses.

The Company's shares are classified as Shariah compliant by Shariah Advisory Council of the Securities Commission Malaysia. The Company's public issue portion which was made available to the Malaysian public via balloting was oversubscribed by 32.2 times.

MIDF Amanah Investment Bank Berhad is the principal adviser, underwriter and placement agent for Life Water Berhad's IPO exercise.