KUALA LUMPUR: Industrial solutions provider EcoSys (Malaysia) Bhd has signed an underwriting agreement with M&A Securities Sdn Bhd in preparation for its upcoming listing on the ACE Market of Bursa Malaysia Securities Bhd through an initial public offering (IPO).
In a statement, the company said its IPO comprises a public issue of 145.70 million new shares, representing 25.5% of the group’s enlarged issued share capital of 571.35 million shares upon listing.
Of the total of 145.70 million new shares, 28.56 million shares, or 5% of the enlarged issued share capital, will be made available to the Malaysian public, with 14.28 million shares allocated to bumiputra public investors and the remaining 14.28 million shares to other Malaysian public investors.
The IPO is expected to raise gross proceeds of RM39.34mil.
