KUALA LUMPUR: Customised incentive travel solutions provider Yes Group Management Bhd has received Bursa Malaysia’s approval for its listing on the ACE Market.
In a statement, 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 137.8 million shares. Upon listing, Yes Group will have an enlarged issued share capital of 530 million shares.
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.
