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KUALA LUMPUR - Malaysian fiberglass reinforced plastic (FRP) manufacturer WF Holding Ltd (WFF), with a market capitalization of $164 million and annual revenue of $4.57 million, announced Tuesday plans to invest in China to expand its production capacity and business scope. According to InvestingPro data, the company has demonstrated strong financial performance with a 73.6% return over the past year.
The company is currently searching for suitable land across various regions in China to establish new factories, according to a press release statement. WF Holding aims to begin the project within 2025.
The investment will focus on developing and manufacturing high-performance glass fiber products, with the company seeking to establish long-term partnerships with local Chinese businesses.
Through this expansion, WF Holding intends to strengthen its production capabilities, increase its market presence in both Chinese and overseas markets, and improve industrial chain efficiency.
The Malaysia-based manufacturer views the investment as a strategic move that may enhance its competitiveness in the Southeast Asian market and globally. The company stated it will monitor market trends and adjust its investment approach based on demand.
WF Holding specializes in the production of fiberglass reinforced plastic products, commonly used in construction, transportation, and industrial applications.
In other recent news, WF Holding Limited, a manufacturer of fiberglass reinforced plastic products, has commenced trading on the Nasdaq Capital Market. The company launched its initial public offering (IPO) at a price of $4.00 per share, with shares opening at $3.97. This offering includes 2,000,000 ordinary shares, and WF Holding anticipates gross proceeds of approximately $8 million before accounting for underwriting discounts and related expenses. Furthermore, the company has granted underwriters a 45-day option to purchase an additional 300,000 shares at the offering price, excluding underwriting discounts. The IPO is being managed on a firm commitment basis, with Dominari Securities LLC as the lead underwriter and Revere Securities LLC acting as a co-underwriter. These developments mark a significant milestone for WF Holding as it enters the public market.
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