KUALA LUMPUR: Rosado Bhd has inked an underwriting agreement with Malacca Securities Sdn Bhd and Kenanga Investment Bank Bhd
, in conjunction with its initial public offering (IPO) and listing on the ACE Market of Bursa Malaysia Securities Bhd.
Rosado’s managing director and chief executive officer Datuk Lim Tiew Sin said the group has built its capabilities and track record over the years in delivering engineering solutions for data centre projects.
This, he said, is underpinned by its technical expertise, project execution capabilities, and commitment to meeting our customers’ requirements.
"These strengths position Rosado to further establish itself as a partner of choice for large-scale power substation and engineering projects.
"With access to the capital markets, we aim to strengthen our capabilities, support our business expansion and pursue opportunities in the data centre infrastructure sector,” said Lim in a statement today.
The engineering solutions provider’s IPO of up to 994.50 million ordinary shares comprises an offer sale of up to 305.50 million existing shares and a public issue of 689.00 million new shares.
The public issue represents up to 17.67 per cent of the company's enlarged issued shares, while the offer for sale accounts for 7.83 per cent.
Of the new shares, 195 million would be made available to the Malaysian public through balloting, of which 97.5 million shares would be set aside for application by Bumiputera public investors.
Another 38 million shares would be allocated to directors, employees and persons who have contributed to the group's success, while 274 million shares would be placed privately with selected investors.
The remaining 182 million new shares would be placed privately with selected Bumiputera investors approved by the Ministry of Investment, Trade and Industry (MITI).
Meanwhile, the 305.5 million existing shares under the offer for sale would be placed privately with selected Bumiputera investors approved by MITI. - Bernama
