Guan Huat Seng signs IPO underwriting agreement with TA Securities

From left: Guan Huat Seng Holdings Bhd executive director Yeo Tian Seng, Guan Huat Seng Holdings managing director Yeo Tien Ee, TA Securities Holdings Bhd executive director - operations Tah Heong Beng and TA Securities head of corporate finance Ku Mun Fong.

KUALA LUMPUR: Guan Huat Seng Holdings Bhd (GHS Holdings), a Melaka-based distributor, retailer and flavouring products manufacturer, has signed an underwriting agreement with TA Securities Holdings Bhd for its initial public offering (IPO) on the ACE Market of Bursa Malaysia.

In a statement, the group said the agreement marks a key milestone in its IPO exercise, which will involve the issuance of 120 million new shares, representing 25.34% of its enlarged share capital of 473.5 million shares.