Evergreen Max inks underwriting agreement with Mercury Securities for ACE Market IPO

Evergreen Max Cash Capital executive director and group managing director Datuk Low Kok Chuan (left) and Mercury Securities managing director Chew Sing Guan

KUALA LUMPUR: Evergreen Max Cash Capital Bhd has entered into an underwriting agreement with Mercury Securities Sdn Bhd for an initial public offering (IPO) on the ACE Market of Bursa Malaysia.

The pawnbroking service provider's IPO will involve a public issue of 267.6 million new shares in Evergreen, representing 24% of its enlarged issued shares and an offer for sales of 43 million existing shares or 3.9% of its enlarged issued shares, to selected investors by way of placement.