From left: RHB Investment Bank Bhd head of group capital markets & advisory Jaimie Sia, RHB Investment Bank managing director/chief executive officer Kevin Davies, Mega Fortris Bhd group managing director cum group chief executive officer Datuk Adrian Ng, Mega Fortris non-independent non-executive chairman Datuk Nick Ng, AmInvestment Bank Bhd deputy chief executive officer Christopher Ng and AmInvestment Bank head of equity capital markets Leong Cheng Yuen.
PETALING JAYA: Mega Fortris Bhd has signed an underwriting agreement with RHB Investment Bank Berhad and AmInvestment Bank Bhd in conjunction with its initial public offering (IPO) on the Main Market of Bursa Malaysia.
In a statement, the security seal specialist said it will undertake an IPO of up to 295.74 million shares.
With this, the IPO shall entail the public Issue of 147.87 million new shares, representing approximately 17.50% of the company’s enlarged issued share capital.
A total of 42.25 million issue shares, representing 5% of the enlarged issued share capital are reserved for the Malaysian public via balloting, of which 21.13 million issue shares will be set aside for Bumiputera investors.
Whereas 25.35 million issue shares, representing 3% of the enlarged issued share capital will be made available for application by eligible persons.
The joint underwriters will underwrite the retail offering of 67.60 million issue shares, representing 22.86% of the total IPO shares.
Additionally, 38.02 million issue shares will be made available for application by way of private placement to identified Bumiputera investors approved by the Ministry of Investment, Trade and Industry, while the remaining 42.25 million issue shares will be allocated to institutional and selected investors through private placement.
RHB Investment Bank managing director/chief executive officer Kevin Davies said: “We are honoured to be the trusted partner in Mega Fortris Berhad’s journey towards its IPO. This collaboration underscores our expertise in delivering tailored banking services and solutions that align with our clients’ strategic ambitions.”
“Mega Fortris has built a strong reputation in the security solutions industry, and we are confident that this milestone will propel them to new heights globally. As they embark on this exciting growth phase, we are proud to provide the financial backing that supports their international expansion plans, while reaffirming RHB’s commitment to innovative investment banking solutions that drive success for our clients.”
Mega Fortris is expected to be listed in the fourth quarter of 2024.
RHB Investment Bank is the IPO’s sole principal adviser, joint underwriter and joint placement agent; whilst AmInvestment Bank serves as the joint underwriter and joint placement agent for the IPO.
