Spartan Ives Capital Reaffirms Confidence In EGHI After ACE Market Listing
KUALA LUMPUR, Oct 16 (Bernama) -- Spartan Ives Capital Sdn Bhd (SIC) has reaffirmed its strong confidence in EGH International Bhd (EGHI) following EGHI’s listing on the ACE Market of Bursa Malaysia today.
SIC director and co-founding partner Christopher Wong said EGHI exemplifies the type of company SIC seeks to support through its pre-initial public offering (IPO) growth stage fund.
“Our investment in EGHI reflects our utmost confidence in the company’s underlying fundamentals and its ability to deliver sustainable business growth.
“We believe that strong investment decisions must be grounded in the quality of a company’s business, its execution capabilities and its long-term potential, rather than simply the prospect of a stock market listing,” he said in a statement today.
He said SIC sees meaningful opportunities for EGHI to build on its existing strengths, expand its market reach and create long-term value for its stakeholders.
SIC recently launched its pre-IPO growth stage fund, which has secured more than RM15 million in investor commitments within its first three months.
The fund focuses on reputable, high-potential Malaysian companies, with the objective of supporting their development and preparing them for public-market listing within 36 months of investment.
Meanwhile, a member of the investment committee of SIC’s venture capital fund, Spartan Everblue LLP and SIC senior partner Vic Chuah said the investment reflects the firm’s confidence in EGHI’s established capabilities and future potential.
“The company’s listing is an important milestone, but our confidence extends beyond the listing itself,” he said.
ACE Market debutant EGHI, which opened at 14.5 sen, 1.5 sen below its IPO price of 16 sen per share, closed at 13.5 sen, down 2.5 sen from its IPO price.
Based in Puchong, Selangor, EGHI mainly provides interior fit-out services and sells furniture, fixtures and equipment, and building materials.
-- BERNAMA