Posted by Jimmy Song > 2013-12-06 19:33 | Report Abuse

2013 FIRST ACE MARKET LISTING KANGER INTERNATIONAL BERHAD LAUNCHES ITS PROSPECTUS KUALA LUMPUR, 06 DECEMBER 2013 – Kanger International Bhd. (“Kanger” or the “Group”), a global integrated bamboo product manufacturer and supplier launched its IPO Prospectus today at Hilton Hotel Kuala Lumpur, pursuant to its public issue of 80 million new ordinary shares of RM0.10 each in Kanger (“Kanger Shares”). Kanger is scheduled to be listed on the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Securities”) on 23 December 2013. The Group’s public issue comprises an issuance of 11 million new Kanger Shares to be offered to public applicants and 69 million new Kanger Shares to be offered via placement to selected investors at an issue price of RM0.25 per Share, which will raise approximately RM20 million upon the listing. “The listing of Kanger International Berhad marks a major milestone for the Group and it provides a definite sense of achievement for all who have been involved in building Kanger to what it is today. The forthcoming listing on Bursa Malaysia would serve as a platform to expand our business potentials to the next level,” said Leng Xingmin, Managing Director of Kanger International Berhad. “As part of our strategic plans going forward and for our business expansion efforts in and out of China, we plan to increase the number of appointed dealers and increase our distribution channels across all four continents. We hope that this will expand Kanger‟s brand awareness and build our corporate image within the industry on an international level.” he further added. Head of Corporate & Institutional Coverage for Kenanga Investment Bank Berhad Mr Leong Yew Loong said, “Kanger International will be the first and only company to be listed on the ACE Market of Bursa Malaysia this year, and we are pleased to be part of this exercise.” Kenanga Investment Bank Berhad is the Advisor, Sponsor, Underwriter and Placement Agent for the listing of Kanger. Event Dates Issuance of Prospectus/ Opening of application for our IPO 6 December 2013 Closing of application for our IPO 13 December 2013 Balloting of applications for our IPO Shares 16 December 2013 Allotment for our IPO Shares to successful applicants 20 December 2013 Listing on Ace Market 23 December 2013 About Kanger International Berhad Established in 2004, Kanger’s principal activity is the trading bamboo flooring and related products. The Group is recognised as the sole authorised bamboo supplier of B&Q China (one of the largest western home improvement retailers in China with currently approximately 40 stores across China and which is part of the Kingfisher PIc Group, Europe's largest home improvement retailer.) In 2008, the Group started to venture upstream into manufacturing of bamboo flooring. The Group was soon capable of manufacturing various types’ products. At this point of time, the Group also expanded its sales market into the European Union. In 2011, the Group entered into bamboo research and development (“R&D”) with Forest Research Institute Malaysia (“FRIM”) on utilization of suitable Malaysian bamboo species for strand woven bamboo products. To date, the Group has 31 appointed “Kanger” retail stores which are mainly located in the Guangdong Province of China. The Group has the capability of upstream and downstream production of bamboo products. The Group is fully equipped with R&D, manufacture, and distribution into the market for sales. For more information, please visit www.krbamboo.com