Ambest signs underwriting deal with Malacca Securities for ACE Market IPO

From left: Ambest Group Bhd executive director Lim Eng Guan, Ambest managing director Tan Beng Beng, Malacca Securities Sdn Bhd managing director Lim Chia Wei and Malacca Securities corporate finance committee chairman Tan Kok Tiam.

KUALA LUMPUR: Ambest Group Bhd, an engineering support services provider specialising in precision machining, has signed an underwriting agreement with Malacca Securities Sdn Bhd for its proposed initial public offering (IPO) on the ACE Market of Bursa Malaysia.

In a statement, Ambest said its IPO will comprise 110 million new shares and 40.953 million existing shares.