DS Sigma signs underwriting deal for ACE Market listing

DS Sigma Holdings Bhd managing director Lucille Teoh Soo Lien (left) and Public Investment Bank Bhd CEO Lee Yo-Hunn (right).

PETALING JAYA: Packaging products provider DS Sigma Holdings Bhd has signed an underwriting agreement with Public Investment Bank Bhd (PIVB) in conjunction with its listing on the ACE Market of Bursa Malaysia.

The company is scheduled to be listed in the first quarter of 2023.

In a statement, DS Sigma said its initial public offering (IPO) will comprise a public issue of 91.18 million new ordinary shares and an offer for sale of 38.42 million existing shares.

Of the 91.18 million new shares, 24 million will be made available for application by the public and 9.8 million for eligible directors, employees of the company and its subsidiaries and people who have contributed to its success.

Meanwhile, 35.80 million shares will be made available for application by way of private placement to selected investors.

The remaining 21.58 million shares will be made available by way of private placement to selected bumiputra investors approved by the International Trade and Industry Ministry (Miti).

As for the offer of sale portion, all 38.42 million shares will be allocated by way of private placement to selected bumiputra investors approved by Miti.

PIVB will underwrite a total of 33.80 million shares made available for the public, the group’s directors and eligible employees, as well as other persons that have contributed to the success of the group.

PIVB is also the principal adviser, sponsor and sole placement agent for the exercise.

DS Sigma is expected to launch its prospectus by the middle of next month.