Puchong:Spartan Ives Capital Sdn Bhd (SIC) has expressed its strong confidence in EGH International Bhd (EGHI) following the company's listing on the ACE Market of Bursa Malaysia.

According to BERNAMA News Agency, Christopher Wong, director and co-founding partner of SIC, stated that EGHI exemplifies the type of company that SIC aims to support through its pre-initial public offering (IPO) growth stage fund. He emphasized that their investment in EGHI is based on the company's solid fundamentals and its potential for sustainable business growth.

Wong noted that strong investment decisions should be grounded in the quality of a company's business, its execution capabilities, and long-term potential, rather than solely on the prospect of a stock market listing. He highlighted the opportunities for EGHI to build on its existing strengths, expand its market reach, and create long-term value for stakeholders.

SIC has recently launched a pre-IPO growth stage fund, which has attracted more than RM15 million in investor commitments within three months. This fund targets high-potential Malaysian companies with the goal of preparing them for public-market listing within 36 months of investment.

Vic Chuah, a senior partner at SIC and member of the investment committee of SIC's venture capital fund, Spartan Everblue LLP, also expressed confidence in EGHI's established capabilities and future potential. He remarked that the company's ACE Market listing, although significant, is just one milestone in its growth journey.

EGHI, based in Puchong, Selangor, specializes in providing interior fit-out services and sells furniture, fixtures, equipment, and building materials. Upon debuting on the ACE Market, EGHI's shares opened at 14.5 sen, 1.5 sen lower than its initial public offering price of 16 sen, and closed at 13.5 sen, marking a 2.5 sen decrease from the IPO price.