PETALING JAYA: Earthworks and civil engineering construction services provider, Wawasan Dengkil Holdings Bhd
has entered into an underwriting agreement with M & A Securities Sdn Bhd in conjunction with its upcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Bhd.
Wawasan Dengkil is principally involved in the provision of construction services namely earthworks and civil engineering services in Malaysia.
In a statement, the company said its IPO exercise encompasses a public issuance of 108.03 million new ordinary shares, representing approximately 20% of its enlarged share capital, as well as an offer for sale of 54.01 million existing shares representing approximately 10% of its enlarged share capital.
Meanwhile, 27.01 million issue shares will be made available to the Malaysian Public via balloting process; 10.80 million issue shares to its eligible directors, employees and persons who have contributed to the success of the group; 40.51 million shares will be made available by way of private placement to Bumiputera investors approved by Ministry of Investment, Trade and Industry, while the remaining 29.70 million shares will be made available by way of private placement to the selected investors.
Wawasan Dengkil is scheduled to be listed on the ACE Market in March 2025, with M&A Securities as the adviser, sponsor, underwriter, and placement agent for the IPO and Eco Asia Capital Advisory Sdn Bhd as the financial adviser.
