PETALING JAYA: Engineering support services provider Chemlite Innovation Bhd has received approval from Bursa Malaysia to list on the ACE Market and has entered into an underwriting agreement with UOB Kay Hian Securities (M) Sdn Bhd.
In a statement, the company said its initial public offering will comprise a public issue of 120 million new ordinary shares and an offer for sale of 60 million existing ordinary shares
Meanwhile, a total of 30 million shares will be made available for application by the public; 21 million shares will be reserved for application by eligible directors and employees, as well as persons who have contributed to the success of the group.
Additionally, 15 million issue shares and 60 million offer shares will be made available by way of private placement to identified bumiputra investors approved by the International Trade and Industry Ministry.
