Reach Ten inks underwriting deal for IPO

From left: M&A Securities Sdn Bhd deputy head of corporate finance Danny Wong, Reach Ten executive director Lu Pak Lim, managing director Leo Chin, M&A Equity Holdings Bhd managing director Datuk Bill Tan, M&A Securities head of corporate finance Gary Ting and associate director Lee Yoke Wah.

PETALING JAYA: Sarawak-based telecommunications service provider Reach Ten Holdings Bhd (Reach Ten) has signed an underwriting agreement with M&A Securities Sdn Bhd for its planned listing on the Main Market of Bursa Malaysia.

The initial public offering (IPO) comprises a public issue of 200 million new shares and an offer for sale of 100 million existing shares, representing 20% and 10% of Reach Ten’s enlarged share capital, respectively.