PETALING JAYA: Apparel retailer and wholesaler EMPG Group Bhd has inked an underwriting agreement with Berjaya Securities Sdn Bhd for its upcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia.
The IPO will fund the expansion of EMPG’s retail network across the country. The group plans to open new consignment counters and standalone boutiques.
The listing exercise entails a public issue of 121.6 million new shares and an offer for sale of up to 48.5 million existing shares.
Under the agreement, Berjaya Securities will underwrite 34.6 million new shares. This comprises 30.3 million shares allocated to the Malaysian public (half of which are set aside for Bumiputra investors) and 4.3 million shares for eligible directors and employees.
The remaining public issue shares will be allocated via private placement, with 75.75 million shares reserved for Bumiputra investors approved by the Investment, Trade and Industry Ministry, and 11.25 million shares for selected investors.
Managing director Loh Tau Sing said the underwriting arrangement paves the way for the launch of its prospectus as the group builds a more scalable multi-brand platform.
Berjaya Securities Sdn Bhd head of capital markets/corporate finance Anuar Omar said the listing will provide EMPG with access to the capital market to support its next phase of retail expansion.
Berjaya Securities is the principal adviser, sponsor, underwriter, and placement agent for the IPO, while WYNCORP Advisory Sdn Bhd is the corporate finance adviser.
