Following the proposed IPO, while Kwap would remain as a substantial shareholder, its shareholding in Swift Haulage will be diluted to 9.12%.
The proceeds from the proposed IPO will go towards the construction of a new warehouse in Port Klang Free Zone, the acquisition of 30 units of prime movers and the purchase of land for future expansion. Meanwhile, about 38.93 million shares would be offered to retail investors, representing 4.37% of the enlarged share capital.
Following the proposed IPO, while Kwap would remain as a substantial shareholder, its shareholding in Swift Haulage will be diluted to 9.12%. “From that perspective, our strategies and plans will be based on strengthening and expanding our operational facilities including warehousing and container depot as well as expanding our fleet operations,” the group said in the draft prospectus.
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