Plytec inks underwriting agreement

PETALING JAYA: ACE market-bound Plytec Holding Bhd has entered into an underwriting agreement with three individual selling shareholders and two investment banks, namely KAF Investment Bank Bhd and Kenanga Investment Bank Bhd to underwrite 51.52 million shares.

In a press statement yesterday, the construction engineering solutions and services group said that the shares to be underwritten consists of 30.30 million issue shares that will be available for application by the Malaysian public; and another 21.21 million offer shares, all of which are currently held by Plytec group managing director and chief executive officer Yang Kian Lock, Low Teck Heng and Louis Tay Chee Siong.