PETALING JAYA: Solar District Cooling Group Bhd (SDCG) has signed an underwriting agreement with Mercury Securities Sdn Bhd for its initial public offering (IPO) en route to a listing on the ACE Market of Bursa Malaysia.
SDCG is principally involved in the provision and maintenance of building management systems, solar thermal solutions and energy saving services. In a statement, SDCG said its IPO involves the public issue of 118.67 million new ordinary shares, representing 28% of its enlarged issued share capital of 423.82 million ordinary shares upon its listing.
SDCG said 21.19 million issue shares, representing 5% of the enlarged issued share capital, will be for application by the Malaysian public, with 50% set aside for Bumiputera investors.
Meanwhile, 21.19 million issue shares (representing 5%) will be for application by eligible directors, employees and persons who have contributed to the group’s success.
Additionally, 76.29 million issue shares representing 18% of the enlarged issued share capital will be made available by way of private placement to selected investors.
Mercury Securities will underwrite all the 42,384,000 issue shares made available for application by the Malaysian public and eligible persons.
