BBSB INTL (08610) offered shares from December 31 to January 8, and the company plans to sell 125 million shares

According to the Zhitong Finance App, BBSB INTL (08610) will raise shares from December 31, 2025 to January 8, 2026. The company plans to sell 125 million shares, of which the public sale accounts for 10% and the placement matters account for 90%. The sale price of each share is HK$0.6-0.7. Shares will be traded in units of 4,000 shares per lot. It is expected that the shares will be traded on the Stock Exchange at 9:00 a.m. (Hong Kong time) on January 13, 2026 (Tuesday).

We are a civil engineering contractor with over 16 years of experience in Malaysia. We specialize in providing bridge engineering services as contractors for large-scale transportation infrastructure projects owned or initiated by the Malaysian government or government affiliated companies. With our reputation and experience in the civil engineering industry, we have strategically extended the scope of civil engineering services to flood control projects with the same engineering procedures as bridge engineering.

In fiscal year 2023, fiscal year 2024, the first 6 months of 2024, and the first 6 months of 2025, we achieved revenue of approximately RM76.8 million, RM133 million, RM69.8 million and RM74 million respectively. The Group recorded a net loss of approximately RM14.5 million in fiscal year 2023, and net profit of approximately RM26.2 million, RM12.1 million and RM3.2 million in fiscal year 2024, the first 6 months of 2024 and the first 6 months of 2025, respectively.

As part of the placement, we have concluded Cornerstone Investment Agreements (Cornerstone Investment Agreements) with two Cornerstone Investors (Mr. Choy) and Mr. Tan Nam Joo (Tan), respectively. The Cornerstone Investors have agreed to subscribe for this number of shares at the sale price of HK$7 million per share (down to a maximum of 4,000 shares per lot) (Cornerstone Placement), subject to certain conditions.

We estimate that the net proceeds from the sale of shares (after deducting the underwriting fees and estimated expenses of the relevant share sale, assuming a sale price of HK$0.65 per share) will be approximately HK$56 million (equivalent to approximately RM30.2 million). Of this, about 65.2% will be used to strengthen our financial situation to cover the upfront costs, which mainly include subcontract costs, material costs and machine rental costs, and the upfront costs of hiring additional project managers to support our business expansion; about 19.8% will be used to expand manpower to support growth in various regions; about 5.0% will be used to upgrade and digitize the Group's information systems and internal processes; and approximately 10.0% will be used for our general working capital.