PETALING JAYA: UWC Bhd has signed an underwriting agreement with Hong Leong Investment Bank Bhd (HLIB) as its principal adviser, underwriter and placement agent in conjunction with its initial public offering (IPO) on the Main Market of Bursa Malaysia.
“We are enthusiastic to commence the next chapter of our corporate journey. This event symbolises a major milestone for us and propels us one step closer to be a listed company,” its executive director and group CEO Datuk Ng Chai Eng said in a statement.
“We aim to further entrench our position as a major precision sheet metal fabrication player not only locally but in the international markets as well, undertaking bigger and more complex projects,” he added.
Its IPO will see the public issuance of 70 million new UWC shares and an offer for sale of 33.015 million existing UWC shares.
HLIB is the underwriter of the 23 million public issue shares that will be made available for application by the Malaysian public as well as eligible directors and employees of UWC.
“We are also pleased to have HLIB on board as our principal adviser, underwriter and placement agent, and we thank them for their confidence in us,” Ng said.