KUALA LUMPUR: Generator rental services provider Express Powerr Solutions (M) Bhd
has entered into an underwriting agreement with Mercury Securities Sdn Bhd for its initial public offering (IPO) on the ACE Market of Bursa Malaysia.
In a statement, the company said the IPO exercise encompassed a public issue of 180 million new ordinary shares, representing 19.3% of its enlarged issued share capital, as well as an offer for sale of 65.4 million existing shares, representing 7% of its enlarged share capital.
Of the 180 million issue shares, 46.7 million issue shares will be made available to the public via balloting, 18.7 million to eligible directors, employees and persons who have contributed to the group’s success.
It is scheduled to be listed by the third quarter of 2025. Mercury Securities is the principal adviser, sponsor, sole underwriter and sole placement agent for the IPO exercise. — Bernama
