PETALING JAYA: Renewable energy company Wasco Greenergy Bhd
is eyeing a listing on the Main Market of Bursa Malaysia.
In its prospectus exposure released yesterday, the company said its initial public offering (IPO) will entail the public issue of 150 million new ordinary shares.
Wasco said its IPO will involve an institutional offering of up to 119.50 million shares to Malaysian institutional and selected investors, including bumiputra investors approved by the Investment, Trade and Industry Ministry.
Meanwhile, 30.50 million shares will be for eligible directors and employees of Greenergy and its subsidiaries, eligible directors and employees, as well as entitled shareholders and the Malaysian public. It said 62.3% of the IPO proceeds will be utilised for expansion.
