From left: Oh Yen San, executive director of Oxford Innotech; Ng Thean Gin, managing director; Tan Kok Tiam, chairman, corporate finance committee of Malacca Securities; and Law Kim Fatt, co-head, corporate finance
KUALA LUMPUR: As it prepares to float its shares on the ACE Market of Bursa Malaysia, Oxford Innotech Bhd
(OXB) has entered into a deal with Malacca Securities Sdn Bhd to underwrite 6.25 million shares made available to the Malaysian public and to elible persons under the pink form allocations.
The integrated engineering solutions provider is embarking on an initial public offering (IPO) exercise that entails a public issue of 143.5 million new ordinary shares, representing 20.2% of its enlarged issued share capital, as well as an offer for sale of 50 million existing shares, representing 7% of the enlarged share capital.
Of the 143.5 million new shares, 35.5 million will be made available for application by the Malaysian public and 27 million shares by its eligible directors, employees and persons who have contributed to the success of the group.
The remaining 81 million new shares will be offered by way of private placement to selected Bumiputera investors approved by the Ministry of Investment, Trade and Industry (Miti).
As for the existing shares under offer for sale, 7.8 million shares will be made available by way of private placement to selected Bumiputera investors approved by Miti, with the remaining 42.2 million shares allocated to selected investors by way of private placement.
“We are expanding both our production capacity and capabilities to cater to the rising demand for precision engineering solutions, especially in the semiconductor and modular building systems sectors.
"Leveraging our extensive expertise and tailored engineering capabilities, we are able to deliver high-quality products and services that address the unique needs of our customers, enabling them to remain competitive and agile in a competitive market,” said OXB managing director Ng Thean Gin in a statement.
OXB is scheduled to be listed on the ACE Market by the third quarter of 2025.
Malacca Securities serves as the principal adviser, sponsor, underwriter and placement agent, while WYNCORP Advisory Sdn Bhd is the corporate finance adviser for the IPO exercise.
