KUALA LUMPUR: Oldtown Bhd, which is seeking to list on the Main Market of Bursa Malaysia, plans to raise RM79.2m from listing exercise.
Of the total proceeds, the company will use RM38.2 million as capital expenditure, a new plant, purchase machinery and equipment, and to open more outlets.
Its chairman Datuk Dr. Ahmed Tasir Lope Pilhie said on Wednesday, June 22: "In view of the huge potential in the food and beverage sector, we at OldTown recognize the need to increase our manufacturing capacity to meet increasing to meet increasing demand."
The new plant will increase production capacity by 500%.
Oldtown Bhd also plans to export its coffee and tea beverages to Iran and China by the end of the year.
It currently exports to 13 countries and this segment of the business contributed 35% or RM89.1 million to FY2010 revenues.
Of the total proceeds, the company will use RM38.2 million as capital expenditure, a new plant, purchase machinery and equipment, and to open more outlets.
Its chairman Datuk Dr. Ahmed Tasir Lope Pilhie said on Wednesday, June 22: "In view of the huge potential in the food and beverage sector, we at OldTown recognize the need to increase our manufacturing capacity to meet increasing to meet increasing demand."
The new plant will increase production capacity by 500%.
Oldtown Bhd also plans to export its coffee and tea beverages to Iran and China by the end of the year.
It currently exports to 13 countries and this segment of the business contributed 35% or RM89.1 million to FY2010 revenues.
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