Vanzo Holdings Berhad (“Vanzo” or “Company”), today premiered on the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Securities”). Started at RM0.175 per share on its trading debut, representing a RM 0.025 or 16.7% increase over its Initial Public Offering (“IPO”) price of RM0.15 per share. At the opening bell, a total of 14,322,800 shares were traded, under the stock name of ‘VANZO’ and stock code of ‘0333’.

Mr. Allan Wong, Non-Independent Executive Director/Managing Director of Vanzo, expressed his pride in the achievement of the Company’s IPO, “Today marks a significant milestone for Vanzo as we debut on the ACE Market of Bursa Securities. As Malaysia's largest homegrown air fragrance company by sales value, we are excited to take this step forward. We are grateful for the support we’ve received throughout this journey and are confident in our future growth. Today’s listing is a major achievement, and we are ready to begin this new chapter for the Company,”.

“We are excited by the strong response to our IPO, which was oversubscribed. With this support, we have raised RM14.0 million to help Vanzo intensify its marketing efforts and further expand our business,” Mr. Allan elaborated. 

Based on Vanzo’s enlarged share capital of 466,751,100 Shares and the IPO price of RM0.15 per share, the Company's total market capitalisation is approximately RM70.0 million. With a total of RM14.0 million in gross proceeds raised from the IPO, Vanzo will utilise 47.2% (RM6.6 million) of the proceeds to finance its business expansion and marketing activities and 21.4% (RM3 million) for repayment of bank borrowings. The remaining proceeds will be utilised for working capital, and to defray listing-related expenses.

Through the Company’s subsidiary, Vanzo is principally involved in the design, marketing, and sale of air fragrance and fragrance-related products. Presently, the Company has 6 retail kiosks in Malaysia, of which 5 are located in different shopping malls in Klang Valley and 1 located in Kuching, Sarawak. Moving forward, Vanzo intends to strengthen the Company’s market presence by expanding its network of retail kiosk throughout Malaysia. As such, Vanzo plans to set up 4 new retail kiosks in the Northern region, Central region, or Southern region of Peninsular Malaysia, and another one in East Malaysia. 

Vanzo has put in place its strategies and plans to sustain and grow the Company’s business, including further strengthening its brand by investing in marketing and promotion activities, and expanding Vanzo’s product ranges. Other than that, the Company also intends to enhance its distribution reach by expanding its sales channels.

M&A Securities Sdn Bhd is the IPO’s Principal Adviser, Sponsor, Underwriter, and Placement Agent whilst Eco Asia Capital Advisory Sdn Bhd is the Financial Adviser.

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