HE Group signs deal for ACE Market IPO

PETALING JAYA: HE Group Bhd has inked an underwriting agreement with Alliance Islamic Bank Bhd in conjunction with its upcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia.

HE Group’s IPO exercise will involve a public issuance of 86.88 million new shares, representing 19.75% of HE Group’s enlarged share capital, as well as an offer for sale of 44 million existing shares, or 10% of the enlarged shares via private placement to selected investors.