ES Sunlogy in underwriting deal for IPO

From left: ES Sunlogy Bhd non-independent non-executive director Datuk Keh Chuan Seng, ES Sunlogy Bhd managing director Khor Chuan Meng, ES Sunlogy executive director Chu Kerd Yee, M & A Securities Sdn Bhd managing director Datuk Bill Tan and M & A Securities Sdn Bhd head of corporate finance Gary Ting.

KUALA LUMPUR: ES Sunlogy Bhd has entered into an underwriting agreement with M & A Securities Sdn Bhd for a proposed initial public offering (IPO) on the ACE Market of Bursa Malaysia.

ES Sunlogy is a provider of mechanical and electrical (M&E) engineering services, specialising in electrical engineering for electricity supply distribution systems, mechanical engineering for building services and the generation and sale of renewable energy.

According to the prospectus exposure available on the Bursa Securities website, ES Sunlogy’s listing exercise includes a public issuance of 140 million new shares.

This will account for 20% of its enlarged share capital of 700 million shares, alongside an offer for sale of 70 million shares, representing 10% of the enlarged share capital.