Nestcon offering 161m new shares under IPO

Datuk Bill Tan, managing director of corporate finance of M&A Securities Sdn Bhd (left) and Datuk Dr Lim Jee Gin, group managing director of Nestcon Bhd after the signing of the underwriting agreement on Monday, May 3, 2021 for the construction company's proposed listing on the ACE Market.

KUALA LUMPUR: Construction company Nestcon Bhd is offering 161 million new shares and also placing out 32.20 million existing shares as it seeks to list on the ACE Market of Bursa Malaysia.

The company said on Monday the 161.0 million new shares represented 25.0% of the group’s enlarged total number of shares.