Winstar signs underwriting deal

KUALA LUMPUR: Winstar Capital Bhd has signed an underwriting agreement with TA Securities for its initial public offering (IPO) and planned listing on the ACE Market of Bursa Malaysia.

In a statement yesterday, Winstar Capital said the IPO will offer 73.95 million ordinary shares, comprising a public issue of 56.55 million new shares and an offer for sale of 17.40 million existing shares. This represents 25.5% of its enlarged issued share capital of 290 million ordinary shares.

Of the 56.55 million new shares, 14.50 million will be open for application by the Malaysian public, while 15.95 million will be allocated to eligible directors, employees, and contributors to the group’s success. — Bernama