EPB signs underwriting deal for IPO

KUALA LUMPUR: EPB Group Bhd and its group of companies have entered into an underwriting agreement with Malacca Securities Sdn Bhd for its upcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia.

The IPO entails a public issue of 71.57 million new shares, representing 19.24% of its enlarged share capital, and an offer for sale of 40 million ordinary shares or 10.75% of the enlarged issued share capital upon listing, EPB said in a statement.

Of the public issue shares, 19.57 million (5.26% of the enlarged issued share capital upon listing) will be made available for application by the Malaysian public via balloting, of which 50% or 9.78 million will be made available to bumiputra investors.

Additionally, 21.19 million shares (5.70%) have been reserved under pink form allocations for eligible directors, key senior management, employees and business associates who have contributed to the company’s success. — Bernama