BWYS inks underwriting agreement with M&A Securities for ACE Market IPO

From left: BWYS Group Bhd executive director Kang Yi Ki, BWYS executive director and managing director Kang Beng Hai, M & A Securities Sdn Bhd managing director Datuk Bill Tan and M & A Securities deputy head of corporate finance Danny Wong.

KUALA LUMPUR: BWYS Group Bhd has entered into an underwriting agreement with M&A Securities Sdn Bhd for its initial public offering (IPO) on the ACE Market of Bursa Malaysia.

The sheet metal manufacturer said in a statement the IPO exercise encompasses a public issuance of 256.3 million new ordinary shares, representing 25 per cent of its enlarged share capital, as well as an offer for sale of 100 million existing shares, or 9.8 per cent of its enlarged share capital, via private placement to selected investors.