EPB GROUP BERHAD IPO OVERSUBSCRIBED BY 61.08 TIMES

Strong Investor Interest in EPB’s IPO Reflects Confidence in the Company’s Growth Prospects

KUALA LUMPUR, 8 AUGUST 2024 – EPB Group Berhad (“EPB”), and its group of companies (the “Group”), an established one-stop food processing and packaging machinery solutions provider, is pleased to announce that the public issue of 19,570,000 new ordinary shares made available for application by the Malaysian public pursuant to the Company’s initial public offering (“IPO”) has been oversubscribed by 61.08 times.

EPB’s IPO comprises the following: -

(a)   Public Issue of 71,570,000 new ordinary shares (“Public Issue Shares”) in the following manner: -

·       19,570,000 Public Issue Shares available for application by the Malaysian public;

·       30,804,000 Public Issue Shares by way of private placement to Bumiputera investors approved by the Ministry of Investment, Trade and Industry (“MITI”); and

·       21,196,000 Public Issue Shares reserved for eligible directors, key senior management, employees, and business associates (including any other persons who have contributed to the success of the Group).

(b)   Offer for sale of 40,000,000 ordinary shares (“Offer Shares”) in the following manner: -

·       15,696,000 Offer Shares by way of private placement to Bumiputera investors approved by MITI; and

·       24,304,000 Offer Shares by way of private placement to selected investors.

The Group received a total of 25,756 applications for 1,214,904,500 Public Issue Shares worth RM680,346,520 from the Malaysian public, representing an oversubscription rate of 61.08 times. The Bumiputera category saw 11,850 applications for 456,249,400 Public Issue Shares, with an oversubscription rate of 45.63 times. The Public category recorded 13,906 applications for 758,655,100 Public Issue Shares, indicating an oversubscription rate of 76.53 times.

Mr. Yeoh Chee Min, Managing Director of EPB Group Berhad, expressed his gratitude: "We are deeply appreciative of the overwhelming response to our IPO. This significant occasion is a testament to the market's confidence in EPB’s strategic direction and potential. Our IPO serves as a gateway to the capital markets, providing us with the necessary resources to fuel our next phase of growth and innovation, particularly in the realm of robotics integration in the food processing and packaging machinery solutions we currently provide to our customers. We are thankful for this show of trust and are ready to utilise this support to further our growth and create lasting value for our stakeholders."

Mr. Liew Meng Hooi, Deputy Managing Director of EPB Group Berhad, added: "As emphasised during our prospectus launch, our commitment to integrating robotics and advancing our food processing and packaging machinery solutions will be a key driver for our future growth. The strong investor interest in our IPO highlights the market’s confidence in our growth strategy and the innovative solutions we provide. We are excited to explore new opportunities and expand our product offerings, ensuring that we stay ahead of industry trends and continue to deliver valuable solutions for our clients."

Ms. Lim Chia Wei, Managing Director of Malacca Securities Sdn. Bhd., shared: “The positive investor response for EPB’s IPO underscores the market's belief in EPB's capabilities and future prospects. The industry continues to show robust growth prospects, driven by increasing customer demand for quality, efficient and automated solutions for food processing and packaging. EPB Group’s innovative solutions and strategic focus on automation and customisation positions it well to capitalise on these industry trends. We look forward to supporting the EPB Group in its mission to drive growth and enhance its service offerings across the region.”

Malacca Securities Sdn. Bhd. is the Principal Adviser, Sponsor, Underwriter and Placement Agent, and WYNCORP Advisory Sdn. Bhd. is the Corporate Finance Adviser of EPB Group Berhad.

EPB Group Berhad is set to debut on the ACE Market of Bursa Securities on 23 August 2024.