TechStore inks agreement 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

PETALING JAYA: 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.

TechStore is an enterprise IT services provider specialising in IT security and automation solutions, currently driving significant advancements in the transportation sector.

TechStore is scheduled to be listed on the ACE Market by February 2025.