KUALA LUMPUR: Life Water Bhd made its debut on the Main Market of Bursa Malaysia with an 18.5 per cent premium, opening at 77 sen per share compared to its issue price of 65 sen.
The company raised RM63.42 million through the public issuance of 97.56 million new ordinary shares.
From the total proceeds, Life Water has allocated 30 per cent, or RM19 million, to set up an additional drinking water production line at its Sandakan Sibuga Plant 1.
Another 18.9 per cent, or RM12 million, will be used to purchase a new drinking water manufacturing line at Sandakan Sibuga Plant 2, while 19.9 per cent, or RM12.6 million, is earmarked for setting up a second distribution center in Sandakan.
Additionally, 15.2 per cent, or RM9.6 million, has been allocated for the expansion of existing plastic packaging facilities in Kota Kinabalu.
Holding an 11 per cent share of Malaysia's bottled water market, Life Water is proud to be recognised for its commitment to product quality and operational excellence, said the company's managing director Liaw Hen Kong.
"Life Water's success is built on strong market acceptance and a well-established distribution network, enabling us to reach a broad customer base across Sabah through thousands of retail, food service, and hospitality outlets.
"Our ability to consistently meet demand has been key to our market leadership, driving a three-year compounded annual growth rate (CAGR) of 17.2 per cent and increasing our total revenue from RM103.5 million in 2021 to RM166.5 million in 2024," he said in a statement.
Looking ahead, the company is focused on increasing capacity and expanding its market presence.
Liaw said that strategic investments in new production lines and an additional distribution centre, will further strengthen the company's supply chain and ensure seamless product access.
"Additionally, the expansion of our packaging facilities will support our increasing market demand, enabling us to scale effectively as we pursue growth opportunities in neighboring markets such as Sarawak and Brunei. We are building on our success in Sabah to drive sustainable expansion across the region," added Liaw.