PETALING JAYA: Building construction services provider, SLGC Bhd, has entered into an underwriting agreement with M & A Securities Sdn Bhd, a wholly-owned subsidiary of M & A Equity Holdings Bhd, in conjunction with its upcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Bhd.
SLGC is principally involved in the provision of building construction including design and build services.
The group undertakes projects primarily as a main contractor specialising in non-residential buildings, such as commercial and industrial buildings, as well as landed and high-rise residential buildings. In addition, the Group also undertakes external and ancillary works related to building constructions.
The IPO exercise involves a public issue of 105 million new ordinary shares, representing 18.75% of its enlarged share capital, as well as an offer for sale of 63 million existing shares, accounting for 11.25% of its enlarged share capital.
Of the 105 million Issue Shares, 28 million issue shares will be made available to the Malaysian public via balloting, while two million issue shares will be allocated to eligible directors and employees of the group.
A further 70 million issue shares will be offered by way of private placement to selected Bumiputera investors approved by the Ministry of Investment, Trade and Industry (Miti), while the remaining five million Issue Shares will be offered by way of private placement to selected investors.
Similarly, the 63 million offer shares will be made available by way of private placement to selected investors.
Pursuant to the underwriting agreement, M & A Securities will underwrite a total of 30 million issue shares made available to the Malaysian public and eligible directors and employees under the pink form allocation.
The 70 million issue shares reserved for private placement to Bumiputera investors approved by Mii, the five million Issue Shares reserved for selected investors, and the 63 million offer shares will be placed out by M & A Securities in its capacity as the placement agent.
SLGC is expected to be listed on the ACE Market of Bursa Securities in October 2026. M & A Securities serves as the principal adviser, sponsor, underwriter and placement agent for the IPO exercise.
