KUALA LUMPUR: East Malaysian steel and building material specialist Colform Group Bhd has entered into an underwriting agreement with Mercury Securities Sdn Bhd for its upcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia.
The IPO involves the issuance of 114.42 million new shares and an offer for sale of 54 million shares.
Under the terms of the deal, Mercury Securities will underwrite a total of 36 million issue shares, comprising the 30 million shares made available for application by the Malaysian public as well as the six million shares reserved for eligible directors, employees and contributors to the group's success.
"This listing will empower Colform to scale new heights by tapping into emerging markets and responding effectively to the evolving needs of the steel industry.
"We remain committed to delivering superior steel solutions that exceed customer expectations, driving sustainable growth and innovation," said managing director Kang Ket Hung in a statement.
