BUTTERWORTH: UWC Bhd
, an integrated engineering service provider, is eyeing a listing on the Main Market of Bursa Malaysia Securities Bhd within this year.
Executive director and group chief executive officer (CEO) Datuk Ng Chai Eng said the company was confident of embarking on the next chapter of its corporate journey once it had launched its prospectus to the Securities Commission Malaysia.
“We aim to further entrench our position as a major precision sheet metal fabrication player not only locally but in the international market as well, undertaking bigger and more complex projects,” he told the reporters here today.
UWC is principally involved in the provision of precision sheet metal fabrication and value-added assembly services, as well as the provision of precision machined components.
In conjunction with its initial public offering (IPO), UWC today signed an underwriting agreement with Hong Leong Investment Bank (HLIB).
Ng signed on behalf of UWC, while HLIB was represented by its group managing director and CEO Lee Jim Leng. The ceremony was witnessed by UWC executive director CK Lau.
The IPO involves a public issue of 70 million new shares, representing 19.1 per cent of UWC’s enlarged issued share capital of 366.8 million shares upon listing, and an offer for sale of 33.02 million existing UWC shares (which represents nine per cent of the company’s enlarged share capital).
HLIB is the principal adviser, placement agent and underwriter of 23 million public issue shares (6.27 per cent of enlarged share capital) that will be made available for application by the Malaysian public. - Bernama
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