Maxwell International Holdings Bhd, a China-based sports footwear designer and manufacturer en route to a listing on Bursa Malaysia, aims to raise RM34.4 million from its initial public offering.
Chairman Jenny Li Kwai Chun said part of the proceeds would be used to improve the group”s design and development (D&D) capabilities.
"To hone our competitive edge even further, we plan to strengthen our D&D capabilities by expanding our team, as well as increasing the number of shoe designs from an average of 1,000 to 1,500 per year.”
"The larger number of designs would broaden our product range and revenue base in the long run," she told reporters after signing the underwriting agreement with OSK Investment Bank Bhd in Kuala Lumpur today.
She also said the company’s present focus was serving a much larger market as an original equipment manufacturer and original design manufacturer for international brands. – Oct 14, Bernama.
Maxwell IPO is adding to the existing four “Red-Chip” listed on Bursa Malaysia, in which they are all in the same industry, i.e. designers and manufacturers of sports apparel and sports related products, and they have factories in China. The existing red-chip are XinQuan, Msports, XDL and K-Star. It appears that China shoemakers tends to like share listing in Malaysia.
