Prestar aims to raise RM18mil from unit’s IPO
Toh: The proposed listing of Tashin will enable Prestar to unlock and crystallise the value of its investment since 1999.
KUALA LUMPUR: Prestar Resources Bhd 
is targeting to raise RM18mil from the listing of its unit Tashin Steel Sdn Bhd.
Tashin, on its part, is expected to raise about RM38mil from its IPO. It plans to use the proceeds to acquire land, build a factory and for working capital.
Yesterday, Prestar, which owns 51% in Tashin, received shareholder approval to list the latter on the Ace Market of Bursa Malaysia. Post-listing, Prestar’s stake in Tashin will drop to 34%.
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