GPP to raise RM4.37 million enroute to LEAP listing – TheEdge

KUALA LUMPUR (Aug 7): Biomass renewable energy producer GPP Resources Bhd is seeking a listing on the Leading Entrepreneur Accelerator Platform (LEAP) Market of Bursa Malaysia at an issue price of 28 sen per share.

GPP will raise RM4.37 million via the excluded issuance of 15.6 million new shares, representing 10.06% of the enlarged share capital to selected sophisticated investors. Based on the enlarged share capital of 155.12 million shares, GPP’s market capitalisation would amount to RM43.43 million upon listing, said GPP in a statement today.

The company is principally involved in businesses that are related to the use of biomass to produce renewable energy and oil palm trunk (OPT) products.