KUALA LUMPUR (March 18): Zantat Holdings Bhd’s net profit for its fourth quarter ended Dec 31, 2023 (4QFY2023) stood at RM1.1 million or 0.50 sen per share, on the back of RM31.7 million in revenue.
In its results filing on Monday, the high-grade calcium carbonate powder producer attributed the net revenue to the production of ground calcium carbonate, which accounted for RM28 million, representing 88.3% of its total revenue.
This was followed by the production of calcium carbonate dispersion at RM2.76 million, as well as the production of kaolin dispersion at RM114,000.
There are no comparative figures for the corresponding quarter a year ago, as this is the first interim financial report announced by Zantat, in compliance with listing requirements.
Full year net profit for its financial year 2023 (FY2023) stood at RM6.77 million, up 24.9% from the RM5.42 million it made in FY2022, as revenue grew 8.65% to RM122.80 million from RM113.02 million.
Moving forward, Zantat aims to leverage its core competency and strengths as a producer of calcium carbonate products to serve as a platform to address business opportunities and growth.
Separately, the group said in a statement that the public portion of its initial public offering (IPO) had been oversubscribed by 130.15 times.
A total of 13,755 applications, seeking 1.84 billion new shares with a value of RM459.01 million, were received from the Malaysian public for 14 million new shares that were made available for public subscription, it said.
Meanwhile, the 11.2 million new shares for eligible directors, employees and persons who had contributed to the success of the group had also been fully subscribed.
Zantat, which is scheduled to list on the ACE Market of Bursa Malaysia Securities Bhd on March 27, aimed to raise RM14 million from its IPO.
Under the listing exercise, Zantat was issuing 56 million new shares, representing 20% of the enlarged share capital at an issue price of 25 sen per share.
As part of its listing exercise, the existing shareholders of the company also made an offer for sale of 16.8 million existing shares to selected investors by way of private placement, representing 6% of its enlarged share capital.
Based on the enlarged share capital of 280 million shares, Zantat is expected to have a market capitalisation of RM70 million after listing.