KUALA LUMPUR, MALAYSIA / ACCESS Newswire / March 13, 2025 / Saliran Group Berhad ("Saliran" or the "Company"), an established supplier and distributor of pipes, fittings and flanges as well as related parts and accessories, and steel products, proudly marked its debut on the ACE Market of Bursa Malaysia Securities Berhad ("Bursa Securities") today. Saliran shares opened at RM0.275 per share, reflecting a strong market reception following its successful Initial Public Offering ("IPO") at RM0.270 per share, representing a premium of 1.85%.
From Left to Right: Mr. Daniel Kok Tai Meng 郭大鸣先生, Independent Non-Executive Director of Saliran Group Berhad; Ms. Ginnie Ooi Gin Hui黄莹蕙女士, Independent Non-Executive Director of Saliran Group Berhad; Datuk Khoo Teck Kee 拿督邱德志, Independent Non-Executive Director of Saliran Group Berhad; Dato' Josephine Low Suet Moi 拿督刘觀美, Independent Non-Executive Chairperson of Saliran Group Berhad; Mr. Dennis Liaw Choon Wei 廖俊伟先生, Managing Director of Saliran Group Berhad; Mr. William Chan Koon Wai陈冠伟先生, Executive Director of Saliran Group Berhad; Ms. Lim Chia Wei 林嘉薇女士, Managing Director of Malacca Securities Sdn Bhd; Mr. Jason Chan 陈启乐先生, Co-Head, Corporate Finance of Malacca Securities Sdn Bhd; Ms. Tan Sin Jiang 陈信颖女士,Vice-President, Corporate Finance of Malacca Securities Sdn Bhd; Mr. Gavin Lim Bak Teik 林木德先生, Chief Operation Officer of Saliran Group Berhad; Mr. Francis Yong Wai Kin 杨伟坚先生, Chief Financial Officer of Saliran Group Berhad
Saliran is listed under the stock name "SALIRAN" with the stock code "0346".
The Company's listing marks a new chapter in its journey, reinforcing its commitment to driving growth in the industrial supply sector, particularly within the oil and gas ("O&G") and infrastructure industries. With a strong foothold in Malaysia and an expanding presence in Southeast Asia, Saliran is well-positioned to capitalise on industry demand and enhance its market reach.
Saliran's IPO raised RM21.7 million, which will be strategically allocated to fuel the Company's growth and operational expansion. The proceeds will be used for the establishment of a sales office in Indonesia, the purchase of machinery and delivery trucks to improve operational efficiency, the repayment of bank borrowings to strengthen financial flexibility, as well as general working capital to support daily business activities. A portion of the funds will also cover listing expenses.
Mr. Liaw Choon Wei, Managing Director of Saliran Group Berhad said, "Today marks a significant achievement for Saliran as we take this important step forward as a listed company. This listing is a testament to our unwavering dedication to growth, operational excellence, and creating long-term value for our stakeholders. With the strong foundation we have built over the years, we are confident in our ability to expand further, strengthen our supply chain, and enhance our capabilities to better serve our customers. We remain committed to driving sustainable growth and seizing new opportunities in the industrial supply and O&G sectors."
Ms. Lim Chia Wei, Managing Director of Malacca Securities Sdn. Bhd. commented, "We are pleased to have played a role in Saliran's journey to becoming a listed entity. The strong reception to its IPO reflects investor confidence in Saliran's solid track record, industry expertise, and strategic growth plans. With its established presence in the industrial supply sector and commitment to expansion, we believe Saliran is well-positioned for continued success in the public market."
Malacca Securities Sdn. Bhd. is the Principal Adviser, Sponsor, Underwriter, and Placement Agent for this IPO.
For more information, visit https://saliran.com.my/.
Swan Consultancy Sdn. Bhd. on behalf of Saliran Group Berhad
For more information, please contact:
Jazmin Wan
Email: j.wan@swanconsultancy.biz
Xinyi Ching
Email: x.ching@swanconsultancy.biz
SOURCE: Swan Consultancy
View the original press release on ACCESS Newswire
