Mestron to issue 158 million new shares, seeks listing on Ace Market

Companies that provide short-term consumer loans at high interest rates are on the increase in countries like Indonesia and the Philippines as many people struggle to get advances through traditional channels such as banks.

KUALA LUMPUR: Steel pole manufacturer Mestron Holding Bhd will issue 158 million new shares or 20% of the enlarged share capital under its flotation exercise.

The company has signed an underwriting agreement with M&A Securities Sdn Bhd under its proposed listing on the Ace Market of Bursa Malaysia.