KUALA LUMPUR: Bioalpha Holdings Bhd, an integrated health supplements company principally involved in manufacture and sales of semi-finished and finished health supplement products, has launched its prospectus in conjunction with the company’s listing on the ACE Market of Bursa Malaysia Securities Bhd.
Bioalpha’s initial public offering (IPO) involves an offering of 100 million new ordinary shares of RM0.05 each, at an issue price of RM0.20 per share payable in full upon application, comprising 20 million shares available for application by the public and 80 million shares by way of placement to selected investors, it said in statement here yesterday.
Bioalpha Managing Director and Chief Executive Officer William Hon said: “It is a testament to the efforts of the team at Bioalpha, as well as our business partners, IPO advisers and the regulatory authorities that we have reached this point in our IPO for which I am truly thankful.”
Bioalpha aims to raise proceeds of RM20 million from the IPO, a major portion of which will be used for research and development (R&D) expenditures, capital expenditures, repayment of bank borrowings as well as working capital to finance business expansion and enhance growth strategies. — Bernama