Orkim inks underwriting agreement ahead of Main Market IPO

From left: RHB Investment Bank Bhd CEO Kevin Davies, Orkim Bhd chairman Datuk Abdul Hamid Sh Mohamed, Orkim executive director and CEO Cheah Sin Bi, CIMB Investment Bank Bhd head of equity capital markets & syndicate Maznee Kamaruddin and Affin Hwang Investment Bank Bhd chief operating officer Hishamuddin Hud Ibrahim.

KUALA LUMPUR: Orkim Bhd has signed a retail underwriting agreement with CIMB Investment Bank Bhd, RHB Investment Bank Bhd, and Affin Hwang Investment Bank Bhd for its initial public offering (IPO), ahead of its listing on the Main Market of Bursa Malaysia Securities Bhd before end of this year.

Orkim group, which is engaged in the ownership, chartering, and operation of vessels, said the IPO will comprise 400 million ordinary shares, consisting of an offer for sale of 300 million existing shares and a public issue of 100 million new shares.