Pan Merchant inks underwriting agreement for ACE Market listing

From left: Pan Merchant Bhd executive director Wong Voon Yoong, Pan Merchant managing director Wong Voon Ten, Affin Hwang Investment Bank Bhd managing director of capital markets Johan Hashim and Affin Hwang head of equity capital markets Arvin Chia.

KUALA LUMPUR: Pan Merchant Bhd has signed an underwriting agreement with Affin Hwang Investment Bank Bhd as part of its initial public offering (IPO) exercise on the ACE Market of Bursa Malaysia Securities Bhd.

In a statement, the solid-liquid filtration solutions provider said its IPO involves 250.2 million ordinary shares in Pan Merchant — 232.2 million new shares and 18.0 million offer-for-sale shares — representing 27.3% of the enlarged share capital.