Southern Cable to issue 104.7m new shares under IPO

From left are Southern Cable Group executive director Wong Meng Kee, managing director Tung Eng Hai, MIDF Bhd group managing director Datuk Charon Wardini Mokhzani, CEO of MIDF Investment Datuk Joseph Dominic Silva and head of corporate finance of MIDF Investment Anuar Omar,

KUALA LUMPUR: Cable and wire manufacturer Southern Cable Group Bhd plans to issue 104.70 million new shares, or 26.2% of the enlarged issued share capital, under its proposed listing on the ACE Market.

It said on Monday 20 million new shares would be offered to public and 11 million shares for application by eligible directors, employees.