Ecomate offers 49m new shares under IPO

From left: Ecomate Holdings Bhd executive director Koh Cheng Huat, Ecomate managing director Jason Koh Jian Hui, M&A Securities Sdn Bhd managing director Datuk Bill Tan and M&A Securities head of corporate finance Gary Ting.

KUALA LUMPUR: Muar-based furniture specialist, Ecomate Holdings Bhd will be offering 49 million new shares and an offer for sale of 30 million existing shares by way of private placement to selected investors via an initial public offering (IPO).

Of the total 49 million new shares, which represents approximately 14 per cent of the group’s enlarged total number of shares, 17.50 million will be allocated to the Malaysian public via balloting, the group said in a statement today.