Senheng inks IPO underwriting agreement
• Appoints Mercury Securities Sdn Bhd, CIMB Investment Bank Berhad and AmInvestment Bank Berhad as underwriters for its initial public offering
• IPO proceeds to fund investments to elevate shopping experiences for customers, as well as building capacity and enhancing capabilities of operations
Kuala Lumpur, Malaysia, 13 December 2021 – Malaysia’s leading consumer E&E retailer Senheng New Retail Berhad (Senheng; the Group; 新兴集团) inked an underwriting agreement with Mercury Securities Sdn Bhd, CIMB Investment Bank Berhad and AmInvestment Bank Berhad to underwrite a total of 52.5 million shares in conjunction with the Group’s Initial Public Offering (IPO) on the Main Market of Bursa Malaysia Securities Berhad (Bursa Malaysia).
The IPO exercise entails a public issue of 250.0 million new shares and an offer-for-sale of 139.5 million existing shares.
Of the 250.0 million new shares, 149.5 million shares will be placed out to institutional and selected investors, and 48.0 million shares will be placed out to Bumiputera investors approved by the Ministry of International Trade and Industry (MITI). Another 22.5 million shares will be made available for application by eligible directors, employees, and persons who have contributed to the Group’s success.
The remaining 30.0 million new shares will be made available for application by the Malaysian public via balloting.
Meanwhile, 139.5 million offer-for-sale shares will be placed out to Bumiputera investors approved by MITI.
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