KUALA LUMPUR: BWYS Group Bhd aims to raise RM56.4 million from its upcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia.
The sheet metal products manufacturer and scaffoldings supplier said the IPO, scheduled for July 22, comprises 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, by way of private placement to selected investors.