PETALING JAYA: Beverage manufacturer Life Water Bhd
has signed an underwriting agreement with MIDF Amanah Investment Bank Bhd in conjunction with its initial public offering (IPO) on the Main Market of Bursa Malaysia.
In a statement, the company said its IPO entails a public issue of 97.56 million new ordinary shares and an offer for sale of 28.39 million existing ordinary shares.
Of the 97.56 million issue shares, 23.66 million shares will be made available for application to the Malaysian public; 14.20 million will be for eligible directors, employees and persons who have contributed to the success of the company and its subsidiaries.
Meanwhile, 560,000 shares made available by way of private placement to selected investors and the remaining 59.15 million shares will be made available by way of private placement to identified bumiputra investors approved by the Investment, Trade and Industry Ministry.
MIDF Investment is the principal adviser, underwriter and placement agent to life water for the listing exercise.
