WF Holding Ltd. Prices IPO at $4.00-$6.00 Per Share (WFF)

WF Holding Ltd. (WFF) is planning to raise $10 million in an IPO on the week of March 17th, IPO Scoop reports. The company plans to issue 2,000,000 shares at $4.00-$6.00 per share.

In the last twelve months, WF Holding Ltd. generated $5.7 million in revenue and $490,000 in net income. WF Holding Ltd. has a market-cap of $125 million.

Pacific Century Securities acted as the underwriter for the IPO.

WF Holding Ltd. provided the following description of their company for its IPO: “We are a holding company whose business is conducted by Win-Fung, our wholly owned subsidiary in Malaysia. (Incorporated in the Cayman Islands) We are a manufacturer of fiberglass reinforced plastic, or FRP, products based in Malaysia. For over 30 years, we have been providing high-quality and durable FRP products to various industries, including, among others, chemical processing, water and wastewater treatment, and power generation. We sell a broad range of FRP products, including filament wound and molded tanks, thermoplastic tanks, lining products, pipes, ducting and fitting products, air pollution control equipment, gratings and other custom-made products. We also offer delivery, installation and repair and maintenance services, as well as on-site consultation services. We use advanced production technology and equipment and have obtained various certifications, including an ISO 9001:2015 certification from NQA. Our manufacturing capabilities allow us to design and fabricate products that meet the specific needs of our clients, ensuring high-quality and reliable performance. FRP is a composite material made up of a polymer that is reinforced with fibers. In general, the polymers used include epoxy, vinyl ester and polyester, while the fibers used include glass, carbon, aramid and basalt. The combination of fibers and polymers provide FRP with unique properties such as high strength, stiffness and durability. This has enabled FRP to be utilized in a wide and diverse range of industries and applications, including the construction, aerospace, marine, electrical, as well as chemical industries. Within the construction industry, FRP is used in the manufacture of panels, roofing, cladding and reinforcement bars. In the automotive industry, FRP can be used in applications such as making body panels, bumpers, and spoilers. FRP is used in making aircraft parts such as wings, fuselage, and tail sections in the aerospace industry, while in the marine industry, FRP is utilized in making the body parts of boats, yachts and ships. In the electrical industry, FRP can be used for making insulators, transformers, and switchgear. FRP is also used in applications in the chemical industry including making storage tanks, pipes and ducts. FRP is used in a growing number of applications across various industries. Designs that require lighter materials, precision engineering with higher tolerances or even simple components have increasingly been manufactured using FRP. These FRP products are cheaper, faster and easier to manufacture than cast aluminum or steel, and often have better tolerance and material strength. At the same time, FRP is also ideal for designs that require higher strength than that of non-reinforced plastics. We sell a broad range of FRP products, including filament wound and molded tanks, thermoplastic tanks, lining products, ducting and fitting products, air pollution control equipment and custom made products. We also offer delivery, installation and repair and maintenance services, as well as on-site consultation services. Note: Net income and revenue are in U.S. dollars for the 12 months that ended June 30, 2024. (Note: WF Holding Ltd. filed its F-1 for its IPO on Sept. 23, 2024, without disclosing the terms. Estimated proceeds are $10.0 million. Background: WF Holding Ltd. submitted confidential IPO documents to the SEC on Jan. 24, 2024.) “.

WF Holding Ltd. was founded in 1984 and has 118 employees. The company is located at Lot 3893, Jalan 4D Kg. Baru Subang Seksyen U6, 40150 Shah Alam, Selangor, Malaysia and can be reached via phone at 60-378471828 or on the web at http://www.winfung.com.my/fibreglass/.