TMK Chemical Bhd officially debuts on the Main Market of Bursa Malaysia Securities Berhad with the share price opening at RM1.97, with an opening volume of 5.9 million shares, representing a 12.6% premium over the initial public offering price of RM1.75.

The company has successfully raised RM385.0 million through the issuance of 220 million new shares. The proceeds from the public issue will be used for various strategic initiatives to support the company's growth and expansion. Of the total proceeds, RM90.2 million will be allocated to expand its Banting Plant 1, while RM49.5 million will be dedicated to the construction of a new facility. Additionally, RM99.1 million will be set aside to fund potential acquisitions, and RM79.4 million will be used for working capital to support the company's operations. The remaining RM50.0 million will be utilised to repay borrowings, with the balance directed towards listing related expenses.

TMK's non-independent executive director and managing director Wong Kin Wah said, "Today marks an exciting chapter in the journey of TMK. Like a launch pad, this step sets firm our trajectory for the next phase of TMK's growth.

"We aspire to build a company that is resilient, adaptable, and capable of delivering long-term value to our shareholders.," he added.

Maybank Investment Bank Berhad is the principal adviser, sole bookrunner and sole underwriter for this IPO exercise.