MSB Global targets to raise RM26.6mil from IPO

From left: Ow Chen Lun, executive director, MSB Global Group; Lai Swee Ping, executive director; Datuk Ow Kee Foo, managing director; Datuk Bill Tan, managing director (corporate finance) and executive director, M&A Securities Sdn Bhd; Gary Ting, head of corporate finance; and Danny Wong, deputy head of corporate finance

KUALA LUMPUR: Aftermarket automotive parts and component reseller MSB Global Group Bhd aims to raise RM26.6mil from an initial public offering (IPO) for the expansion of its business.

The company, which is en route to a listing on the ACE Market of Bursa Malaysia, is planning the issuance of 133 million new ordinary shares at a retail price of 20 sen per share.