Mercury Securities managing director Chew Sing Guan (left) and Public Investment Bank Bhd chief executive officer Lee Yo-Hunn (right).
KUALA LUMPUR: Mercury Securities Group Bhd
has entered into an underwriting agreement with Public Investment Bank Bhd (PIVB) for its upcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities.
Mercury Securities is an investment holding company and through its wholly-owned subsidiary, Mercury Securities Sdn Bhd is principally involved in the provision of stockbroking, corporate finance advisory services and other related businesses.
The IPO involves the public issue of 157.10 million new ordinary shares and an offer for sale of 71.51 million existing ordinary shares representing 17.59% and 8.01% respectively of Mercury Securities’ enlarged issued shares of 893 million ordinary shares upon its listing.
PIVB will underwrite 66.98 million issue shares made available for application by the Malaysian public and eligible persons.
“Our listing will enhance our visibility and reputation in the marketplace, and enable our directors, employees, business partners and public investors to participate in the growth and continued expansion of our business whilst increasing shareholders’ value,” Mercury Securities managing director Chew Sing Guan said in a statement.
“Our group will remain focused and committed to continually providing innovative products and solutions that create value for our customers and strive to exceed their expectations.
“To this purpose, we are committed to developing our digitalisation programme in order to innovate our products and services offerings for our customers, while we continue to automate and streamline our operations for all-round efficiency,” Chew said.
