PETALING JAYA: Mega Fortris Bhd has signed an underwriting agreement with RHB Investment Bank Bhd and AmInvestment Bank Bhd in conjunction with its initial public offering (IPO) on the Main Market of Bursa Malaysia.
In a statement, the security seal specialist said it will undertake an IPO of up to 295.74 million shares.
With this, the IPO shall entail the public issue of 147.87 million new shares, representing approximately 17.50% of the company’s enlarged issued share capital.
A total of 42.25 million issue shares, representing 5% of the enlarged issued share capital are reserved for the Malaysian public via balloting, of which 21.13 million issue shares will be set aside for bumiputra investors.
The joint underwriters will underwrite the retail offering of 67.60 million issue shares, representing 22.86% of the total IPO shares. Mega Fortris is expected to be listed in the fourth quarter of 2024.
