KUALA LUMPUR: Bursa Malaysia Securities Bhd has approved SBS Nexus Bhd to list on the ACE Market.
In a statement today, SBS Nexus said the company has targeted to do so by the first quarter of 2026 with an enlarged issued share capital of 490 million ordinary shares.
SBS Nexus is principally an investment holding company with subsidiaries, collectively known as SBS Nexus group, involved in offline and digital branding and marketing solutions.
"SBS Nexus’ initial public offering (IPO) entails a public offering of 171.5 million ordinary shares comprising a public issue of 122.5 million new shares (issue shares) and an offer for sale of 49.0 million existing shares (offer shares). Collectively, they represent 35 per cent of the group’s enlarged issued share capital of 490 million ordinary shares," it said.
The company said out of 122.5 million issue shares, 24.5 million will be made available for application by the Malaysian public, while 17.15 million issue shares will be made available for application by eligible directors and employees and those who have contributed to the group's success.
"Another 61.25 million issue shares will be available by way of private placement to bumiputera investors approved by the Investment, Trade and Industry Ministry, and 19.6 million issue shares for private placement to selected investors.
"There is also an offer for sale of 49.0 million offer shares for private placement to selected investors," it said.
SBS Nexus managing director cum chief executive officer Wong Chun Mun said the company plans to relocate to a larger headquarters.
It also plans to offer branding and marketing services to the Malay-speaking small and medium enterprise (SME) community as part of its expansion under the brand MyUsahawanMedia.
"We intend to further enhance our brand recognition by increasing our branding and marketing activities in Malaysia. We recognise the importance of continuously enhancing our brand recognition to maintain competitiveness and increase our market share,” he said.
The group also aims to grow its mobile and web-based applications and website development business to capture opportunities which have arisen from the demand for digitalisation, the statement said.
M & A Securities Sdn Bhd is the principal adviser, sponsor, underwriter and placement agent for the exercise. - Bernama
