Colform Group Berhad has announced its upcoming debut on the ACE Market of Bursa Malaysia Securities Berhad with an IPO comprising public issuance of 114.4 million ordinary shares and offers for sale of 54.0 million ordinary shares, representing 28.07% in total of its enlarged issued shares.

The IPO proceeds will be used to enhance its operations by setting up an in-house colour coil coating production line at its Kota Kinabalu facility. This addition will expand the Group's product range, reducing reliance on external suppliers for colour coated coils and allowing greater quality control. The Group is also planning a new storage facility at the Kota Kinabalu factory, with construction set to begin in early 2025, subject to obtaining the necessary approvals. This facility aims to improve the logistics and inventory management as Colform scales its operations.

Additionally, Colform is expanding its footprint to Peninsular Malaysia by setting up a new branch office and leasing a factory in Klang. This strategic expansion will open opportunities in the larger Peninsular market. The Group is also investing in an advanced Enterprise Resource Planning ("ERP") system to streamline operations across its locations, further enhancing its operational and management efficiencies.

Mercury Securities Sdn Bhd is the Principal Adviser, Sponsor, Sole Underwriter and Sole Placement Agent for Colform Group Berhad.