Energy drinks producer plans US listing
Kuala Lumpur: Rhino Two Horns (Malaysia) Sdn Bhd, a Malaysian manufacturer of sports and energy drinks, is eyeing a flotation on a stock exchange in the US.
The company has signed a new definitive listing agreement with US-based EastBridge Investment Group (EBIG) to take Rhino Two Horns public in the US as soon as possible.
Under the terms of agreement, EBIG will be paid US$700,000 (RM2.34 million) in cash, of which US$300,000 (RM1 million) will be paid immediately and US$200,000 (RM668,000) paid in about 60 days and the remaining US$200,000 (RM668,000) on actual listing.
In a statement, Rhino Two Horns chairman Alex Loh said the company is confident that with its partnership with EBIG, high returns on investment will be the reward for shareholders.
"We are the first to market exclusively an all-natural product range of beverages," he said.
EBIG chief operating officer and chief financial officer Norm Klein said the company will assist Rhino Two Horns in completing the necessary requirements to become a public company in the US.
"Rhino Two Horns has significant growth potential and we are glad that EBIG will assist in their expansion plans. This agreement is also an indication that we are expanding our reach beyond China and it is our second cash agreement in the past two months," he said.
Registered in Malaysia in 2003, Rhino Two Horns markets all-natural energy sports drinks containing a unique formulation.
The current Two Horns (TM) range of products includes Energy 250 and Ultra Sports 500 beverages.
New products featuring the "super fruit" Acai berry called Acai Energy 250, and R3HYDR8 (TM) are being prepared for launch in the first quarter of next year.
Rhino Two Horns has established its Malaysian market with 856 convenience stores nationwide and has entered India, Australia and New Zealand.
Distribution agreements are close to being finalised to market is products to China, the US and Sri Lanka.
EBIG, meanwhile, focuses on small- and medium sized high-growth companies in China and India offering initial public offering, joint venture and merchant banking services. The company targets industries in electronics, real estate, motor vehicles, metal, energy, environmental, bio-science and food retail distribution.
