From left: Cropmate Bhd executive director Lee Cheng Seng, Cropmate managing director Lee Chin Yok, Hong Leong Investment Bank Bhd group managing director/chief executive officer Lee Jim Leng and Cropmate executive director Lee Cheng Fei.
PETALING JAYA: Cropmate Bhd has signed an underwriting agreement with Hong Leong Investment Bank Bhd for its upcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia.
In a statement, the fertiliser manufacturer and supplier said the IPO exercise will involve the public issue of 210 million new ordinary shares.
This represents 28.4% of the enlarged issued share capital, with an offer for sale of 50 million existing shares, representing 6.8% of the enlarged issued share capital of 738 million ordinary shares.
The allocation of the IPO shares will involve an institutional offering of approximately 208.34 million IPO shares, representing 28.2% of the enlarged issued share capital.
Additionally, 92.25 million shares will be reserved for bumiputra investors approved by the Investment, Trade and Industry Ministry, including 42.25 million new ordinary shares and 50 million existing shares.
