SDCG signs underwriting agreement

Mercury Securities managing director Chew Sing Guan (left) and SDCG managing director Edison Kong.

PETALING JAYA: Solar District Cooling Group Bhd (SDCG) has signed an underwriting agreement with Mercury Securities Sdn Bhd in conjunction with its listing on the ACE Market of Bursa Malaysia.

SDGC is principally involved in the provision and maintenance of building management systems, solar thermal solutions and energy saving services.

In a statement, SDGC said its initial public offering (IPO) involved 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.

SDGC said 21.19 million shares, representing 5% of the enlarged issued share capital, will be for application by the public, with 50% set aside for bumiputra investors.

A total of 21.19 million shares (representing 5%) will be for application by eligible directors, employees and persons who have contributed to the group.