PETALING JAYA: PEOPLElogy Bhd has released a draft prospectus for its initial public offering (IPO) on Bursa Malaysia yesterday in conjunction with its intended listing on the ACE Market.
The IPO comprises a public issue of 105,000,000 new ordinary shares in the integrated people development solutions provider firm, which will see 20.6 million new shares made available for application by the Malaysian public, and 51.5 million new shares available by way of private placement to selected bumiputra investors.
Meanwhile, 12.4 million new shares will be made available for application by the eligible directors and employees of the group, with 20.6 million new shares to be privately placed to selected investors.
PEOPLElogy said the IPO exercise is set to achieve a few objectives, including to facilitate its business expansion locally and regionally, as well as to provide it access to the capital market for cost effective capital raising for the pursuit of future growth opportunities.
