ISF Group inks underwriting deal with Alliance Islamic

(From left) ISF Group Bhd executive director Lim Ay Yum, executive director Ai Sew Fuat, managing director Jeff Ai Boon Chen, Alliance Islamic Bank Bhd chief executive officer Rizal IL-Ehzan Fadil Azim, Alliance Bank Malaysia Bhd group chief corporate and institutional banking officer Teoh Chu Lin, Alliance Islamic Bank corporate finance, Islamic capital markets head and senior vice president Tee Kok Wah and coverage and origination of Islamic capital markets head and senior vice president Lim Shueh Li at the underwriting agreement signing ceremony of ISF Group in conjunction with its listing on the ACE Market of Bursa Malaysia.

PETALING JAYA: End-to-end piping solutions provider ISF Group Bhd has entered into an underwriting agreement with Alliance Islamic Bank Bhd in conjunction with its upcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia.

ISF’s IPO exercise encompasses a public issuance of 185.30 million new ordinary shares, representing approximately 18.53% of its enlarged issued share capital, as well as an offer for sale of 90 million existing shares, representing approximately 9% of its enlarged issued share capital.