Unique Fire inks underwriting agreement with Alliance Islamic Bank

Alliance Islamic Bank Bhd CEO Rizal IL-Ehzan Fadil Azim (left) and Unique Fire Holdings Bhd managing director Liew Sen Hoi (right). Liew Sen Hoi (Managing Director, Unique Fire Holdings Berhad)

KUALA LUMPUR: Unique Fire Holdings Bhd has signed an underwriting agreement with Alliance Islamic Bank Bhd (AIS) for the group's upcoming listing on the ACE Market.

AIS is the principal adviser, sponsor, sole underwriter and placement agent for the initial public offering (IPO).

Set up in 1997, Unique Fire is involved in the assembly, manufacture and distribution of active fire protection systems, equipment and accessories for the built environment.

Group managing director Liew Sen Hoi said the group aims to enhance its manufacturing facilities and operational capabilities in order to expand its geographical footprint and grow its customer base.

“The IPO will enhance our group’s corporate profile and provide funding to drive our future expansion," he said in a statement.

The IPO entails a public issue of 83.75 million new shares and an offer for sale of 30 million existing shares.

Of the 83.75 million new shares, 20 million shares will be allocated to the Malaysian public via balloting and eight million shares will be made available for application by the group’s eligible directors, employees and persons who have contributed to the success of Unique Fire.

Another 5.75 million shares will be placed out by way of private placements to selected investors.

The remaining 50 million shares will be made available to bumiputra investors approved by the International Trade and Industry Ministry.

Meanwhile, the 30 million offer for sale shares will be offered to selected investors by way of private placement.