PEOPLElogy inks listing agreement

From left: Allen Lee, non-independent executive director/managing director of PEOPLElogy; Datuk Roslan Hj Tik, executive director, head of group investment banking and Islamic banking, Kenanga Investment Bank; and Cally Yau, non-independent executive director and CEO of PEOPLElogy

PETALING JAYA: PEOPLElogy Bhd, a provider of integrated people development solutions in digital workforce transformation, has signed an underwriting agreement with Kenanga Investment Bank Bhd in conjunction with its listing on the ACE Market of Bursa Malaysia.

In a statement, the company said its initial public offering (IPO) will entail a public issuance of 105 million new shares, with Kenanga underwriting 32.94 million shares.

PEOPLElogy said proceeds from the IPO will be utilised to fund its business expansion including the establishment of a cyber range computer simulation lab; expansion through strategic investments, mergers and acquisitions opportunities; and software research, among others.

The remaining proceeds will be used for general working capital and the listing expenses.