Tentative Date(s):

• Opening of application - 26 November 2024
• Closing of application - 03 December 2024
• Balloting of applications - 06 December 2024
• Allotment of IPO shares to successful applicants - 18 December 2024
• Tentative listing date - 19 December 2024

Company Background

The company was incorporated in Malaysia under the Act on 15 December 2023 as a private limited company under the name of Winstar Capital Sdn Bhd. On 14 June 2024, the Company was converted into a public limited company under its present name. The company is an investment holding company. Through its subsidiaries, they are principally involved in the extrusion of aluminium profiles and fabrication of aluminium ladders as well as solar PV mounting structures and related accessories, trading and distribution of building materials, and solar PV system installation services.

The company group structure after IPO is as follows:

Use of proceeds

1. Capital expenditure for the purchase of new aluminium extrusion press machines and equipment - 48.25% (within 24 months)
2. Working capital requirements - 31.54% (within 12 months)
3. Defray fees and expenses relating to the Listing - 20.21% (within 2 months)

Capital expenditure for the purchase of new aluminium extrusion press machines and equipment - 48.25% (within 24 months)

The company intends to utilise RM9.55 million, representing approximately 48.25% of the proceeds from its Public Issue, to purchase four new aluminium extrusion press machines and equipment to be installed at Lot 903 Facility as follows:

Working capital requirements - 31.54% (within 12 months)

The company intends to utilize a total of RM6.24 million, representing approximately 31.54% of the proceeds from its Public Issue, to finance their additional working capital requirements in tandem with the expected growth in their business and operations. The entire RM6.24 million has been earmarked for the purchase of aluminium billets. Aluminium billets are the main raw materials that they purchase for the aluminium extrusion segment.

Business Model

An overview of the company's business model is illustrated below:

Click here to continue the IPO - Winstar Capital Berhad (Part 2)

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