TechStore inks underwriting deal with M&A Securities

From left: Mohd Fadzil Mohd Daud, executive director of TechStore; Tan Hock Lim, managing director; Datuk Bill Tan, managing director of M&A Equity Holdings; and Gary Ting, head of corporate finance of M&A Securities

KUALA LUMPUR: Enterprise IT services provider TechStore Bhd has entered into an agreement with M&A Securities Sdn Bhd, a unit of M&A Equity Holdings Bhd, for the underwriting of 50 million new initial public offering (IPO) shares made available to the Malaysian public and eligible parties under pink form allocations .

TechStore's IPO on the ACE Market of Bursa Malaysia, comprises a public issuance of 125 million new shares, representing 25% of its enlarged share capital, as well as an offer for sale of 25 million existing shares, or 5% of its enlarged share capital.