KUALA LUMPUR: MSB Global Group Bhd
has received approval from Bursa Malaysia Securities Bhd (Bursa Securities) to list on the ACE Market of Bursa Securities.
MSB Global is principally involved in the marketing, trading and distribution of aftermarket automotive parts and components as well as automotive lubricants and fluids.
It is the exclusive distributor of GSP-branded automotive parts and components in Malaysia. GSP Automotive Group is a China-based manufacturer listed on the Shanghai Stock Exchange.
In a statement, MSB said its initial public offering (IPO) will involve the issuance of 133.0 million new ordinary shares, representing 21.80% of the group’s enlarged issued share capital of 610.0 million shares.
It said 30.50 million shares, or 5% of the group's enlarged issued share capital, will be available to the Malaysian public, with 2.5% made available to public investors and 2.5% to Bumiputera public investors.
Another 6.10 million shares, or 1%, would be allocated to eligible directors, key senior management and employees through pink form allocations.
Additionally, 76.25 million shares or 12.5% of the enlarged issued share capital are reserved for private placement to Bumiputera investors approved by the Ministry of Investment, Trade and Industry (MITI).
MSB Global said 20.15 million shares, or 3.3% of the enlarged issued share capital, are reserved for private placement to selected investors.
Managing director Datuk Ow Kee Foo said the IPO opened new opportunities to drive innovation, strengthen its brand and accelerate our growth in the automotive aftermarket parts and components industry.
“Our commitment to technological advancement and continuous improvement will allow us to introduce new product categories, including our in-house branded electric vehicle (EV) chargers, enhance operational efficiencies and solidify our position as an industry leader.
“As we embark on this next chapter, we remain dedicated to creating long-term value for our stakeholders and contributing to the growth of Malaysia’s automotive industry,” Ow said.
M & A Securities Sdn Bhd is the principal adviser, sponsor, underwriter, and placement agent for this IPO.
