Mar 27, 2024 - Zantat shares jumped 48% to 37 sen in market trading today.

Zantat Holdings Bhd, a leading producer of calcium carbonate, has emerged as a strong player in the ACE Market of Bursa Malaysia. The company's stock opened at 40 sen per share, up 15 sen or 60% from its IPO price of 25 sen per share. This impressive debut has helped the group achieve a market capitalization of RM112 million, based on a share capital of 280 million.

The public has shown keen interest in the company's IPO, with the public portion being oversubscribed by 130.15 times. The IPO has attracted a total of RM459.01 million worth of orders from the Malaysian public, approximately 33 times more than the RM14 million target the company aimed to raise.

Ivan Chan, the managing director of Zantat Holdings, expressed optimism about the company's prospects. He believes the glove industry will recover in the second half of the year, which could generate additional revenue for the company. As a result, the company is well-positioned to capitalize on this trend.

Moreover, Zantat Holdings is planning to expand its footprint in other regions. The company intends to introduce its new bioplastic products in Australia, New Zealand, and Europe. It has also collaborated with strategic partners to produce compostable garbage bags, which will be exported to these countries. This is expected to enhance the company's revenue streams and market share.

In its fourth quarter ended Dec 31, 2023, Zantat Holdings recorded a net profit of RM1.1 million, driven by RM31.7 million in revenue. The company's net profit for the financial year ended Dec 31, 2023, was RM6.77 million. These figures demonstrate the company's strong financial performance and ability to deliver value to its shareholders.

About Zantat

Founded in 1985, Zantat Sdn Bhd has grown to be one of Malaysia’s leading producers of high-grade Calcium Carbonate powder and Calcium Carbonate dispersion products today.