Swift Energy inks underwriting agreement

From left: Swift Energy Technology Bhd chief operating officer Chin Saw Yong, Swift chief executive officer Tan Bin Chee, M & A Securities Sdn Bhd managing director, corporate finance Datuk Bill Tan and M & A Securities deputy head, corporate finance Danny Wong.

PETALING JAYA: Industrial automation and power systems provider Swift Energy Technology Bhd has entered into an underwriting agreement with M&A Securities Sdn Bhd for its initial public offering (IPO) on the ACE Market of Bursa Malaysia.

The IPO entails a public issue of 250.20 million new ordinary shares alongside an offer for sale of 50.04 million existing ordinary shares.