SECTION 4: FINANCIAL PERFORMANCE 192Registration No: 199301009307 (264044-M) 54 14. SHARE CAPITAL Number of ordinary shares Amount 2023 2022 2023 2022 RM’000 RM’000 Group and Company Issued and fully paid with no par value:- At the beginning of the financial year 660,868,600 100,000 39,836 100 Issuance of new ordinary shares:- - Capitalisation of amount owing to holding company - 32,000,000 - 32,000 - Initial Public Offering 160,000,000 - 129,600 - Subdivision of shares - 609,900,000 - - Share issuance expenses - - (3,534) - Issuance of shares to acquire subsidiaries’ remaining equity interest from minority shareholders - 18,868,600 - 7,736 At the end of the financial year 820,868,600 660,868,600 165,902 39,836 (a) The holders of ordinary shares are entitled to receive dividends as and when declared by the Company. All ordinary shares carry one vote per share without restrictions and rank equally with regard to the Company’s residual assets. The new ordinary shares issued during the financial year ranked pari passu in all respect with the existing ordinary shares of the Company. (b) During the financial year, the Company increased its issued and paid-up ordinary share capital from RM39,836,000 comprising 660,868,600 ordinary shares to RM165,902,000 comprising 820,868,600 ordinary shares through the following:- (i) On 20 July 2023, the Company was listed on the Main Market of Bursa Malaysia Securities Berhad pursuant to the IPO of 160,000,000 new ordinary shares at IPO Price of RM0.81 per share.
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