Signature Alliance signs underwriting deal

From left: Signature Alliance Group Bhd (SAG) promoter and substantial shareholder Melvin Ng, Affin Hwang Investment Bank Bhd head of equity capital markets Arvin Chia, Affin Hwang Investment Bank managing director, capital markets Johan Hashim, SAG executive director Mario Foo, SAG chairman Datuk Wan Ahmad Satria Wan Hussein, SAG substantial shareholder Datuk Seri Chiau Beng Teik, SAG executive director/group CEO Darren Chang, SAG substantial shareholder Chiau Haw Choon, M & A Equity Holdings Bhd managing director Datuk Bill Tan, M & A Securities Sdn Bhd head of corporate finance Gary Ting and SAG director Lau Kock Sang.

PETALING JAYA: Signature Alliance Group Bhd has signed an underwriting agreement with M & A Securities Sdn Bhd and Affin Hwang Investment Bank Bhd (AHIBB) for its listing on the ACE Market of Bursa Malaysia.

In a statement, the premier interior fitting-out specialist said its initial public offering would involve a public issue of 260 million new shares, representing 26.0% of its enlarged share capital of one billion shares upon listing. No existing shares will be offered for sale.

Under the underwriting agreement, M&A Securities, as the managing underwriter, and AHIBB, as the joint underwriter, will jointly underwrite a total of 100 million new shares allocated to the Malaysian public, pink form allocations, and entitled shareholders of SIB.

Signature Alliance, a subsidiary of SIB, is principally involved in the provision of interior fitting-out services and building construction works.