Unitrade Industries inks IPO underwriting agreement with M&A Securities

From left: M&A Securities Sdn Bhd head of corporate finance Gary Ting, M&A managing director of corporate finance, Unitrade Industries Bhd executive vice chairman Sim Keng Chor, Unitrade managing director Nomis Sim Siang Leng and Unitrade executive director Simson Sim Xian Zhi.

KUALA LUMPUR: Unitrade Industries Bhd has entered into an underwriting agreement with M&A Securities Sdn Bhd in conjunction with its upcoming initial public offering (IPO) on Bursa Malaysia’s ACE Market.

In a statement, it said Unitrade’s IPO exercise involves a public issue of 312.5 million new shares, representing 20 per cent of its enlarged share capital, as well as an offer for sale of 125 million existing shares.