Edelteq signs IPO underwriting agreement with UOB Kay Hian Securities

From left Edelteq Holdings Bhd executive director and group chief executive officer Chin Yong Keong and UOB Kay Hian Securities (M) Sdn Bhd chief executive officer David Lim Meng Hoe.

KUALA LUMPUR: Edelteq Holdings Bhd, an engineering support provider for integrated circuit (IC) assembly and test processes, has inked an underwriting agreement with UOB Kay Hian Securities (M) Sdn Bhd (UOBKH) as part of its upcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Bhd.

In a statement, Edelteq said the IPO exercise would involve a public issuance of 100 million new shares, which represents 18.78 per cent of its enlarged share capital, and an offer for sale of 43.20 million existing shares, or 8.11 per cent of the enlarged shares, through private placement to selected investors.