KUALA LUMPUR: Customised incentive travel solutions provider Yes Group Management Bhd (Yes Group) has received Bursa Malaysia Securities Bhd’s approval for its listing on the ACE Market.
In a statement today, the company said the initial public offering (IPO) will comprise a public issue of 91.87 million new shares and an offer for sale of 45.93 million existing shares, representing a total IPO offering of 137.80 million shares.
On listing, Yes Group will have an enlarged issued share capital of 530 million shares.
Yes Group managing director Angela Mak Shau Kwan said over the years, the company has grown from a travel and event solutions provider into a meetings, incentives, conferences, and exhibitions (MICE) specialist with strong execution capabilities, supported by its customer relationships, operational processes and service quality.
"The proposed listing will provide us with a stronger platform to enhance our visibility, expand our capabilities and pursue our next phase of growth,” he said.
The operating history of the company and its subsidiaries can be traced back to 2008 with the incorporation of Yes Travel & Events Consultant Sdn Bhd, which was subsequently renamed Yes Travel & Holidays Sdn Bhd in 2009.
The group began by providing event planning and management solutions for corporate events before expanding into domestic incentive travel in 2010 and overseas incentive travel in 2014.
According to the prospectus exposure, the group plans to utilise the proceeds from the public issue to expand ground transportation services in Europe as well as to establish a regional office in the United Kingdom and a training and development centre called Yes Academy, among others.
Malacca Securities Sdn Bhd is the principal adviser, sponsor, underwriter and placement agent for the IPO. - Bernama
