Mercury Securities Group Berhad has entered into an underwriting agreement with Public Investment Bank Berhad (PIVB) today for the Group’s upcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Berhad.
Mercury Securities is an investment holding company and through its wholly-owned subsidiary, Mercury Securities Sdn Bhd (a Participating Organisation of Bursa Malaysia Securities Berhad and a Recognised Principal Adviser by the Securities Commission Malaysia) (collectively “Group”) is principally involved in the provision of stockbroking, corporate finance advisory services and other related businesses such as margin financing facilities services, underwriting and placement services, as well as provision of nominee and custodian services.
The IPO involves the public issue of 157.10 million new ordinary shares (“Issue Shares”) and an offer for sale of 71.51 million existing ordinary shares (“Offer Shares”) representing 17.59% and 8.01% respectively of Mercury Securities’ enlarged issued shares of 893,000,000 ordinary shares upon its listing.
The Issue Shares and Offer Shares will be allocated in the following manner:
A. PUBLIC ISSUE
– 44.65 million Issue Shares representing 5.00% of the enlarged issued share capital for application by Malaysian public, of which 50.00% is to be set aside for Bumiputera investors.
– 22.33 million Issue Shares representing 2.50% of the enlarged issued share capital for application by eligible directors, employees and persons who have contributed to the Group’s success.
– 45.47 million Issue Shares representing 5.09% of the enlarged issued share capital made available by way of private placement to selected investors.
Bumiputera Investors approved by Ministry of Investment, Trade and Industry (“MITI”)
– 44.65 million Shares representing 5.00% of the enlarged issued share capital made available by way of private placement to Bumiputera investors approved by MITI.
B. OFFER FOR SALE
– 4.53 million Offer Shares representing 0.51% of the enlarged issued share capital made available by way of private placement to selected investors.
Bumiputera Investors approved by MITI
– 66.98 million Offer Shares representing 7.50% of the enlarged issued share capital made available by way of private placement to Bumiputera investors approved by MITI.
PIVB will underwrite 66.98 million Issue Shares made available for application by the Malaysian Public and Eligible Persons.
Managing Director of Mercury Securities, Mr. Chew Sing Guan stated, “Our listing will enhance our visibility and reputation in the marketplace, and enable our directors, employees, business partners and public investors to participate in the growth and continued expansion of our business whilst increasing shareholders’ value.”
“This corporate milestone will help scale our Group to new heights by tapping on new opportunities, and to respond to the evolving needs of our customers and trends in the marketplace. Our Group will remain focused and committed to continually provide innovative products and solutions that create value for our customers and strive to exceed their expectations. To this purpose, we are committed to developing our digitalisation programme in order to innovate our products and services offerings for our customers, while we continue to automate and streamline our operations for all-round efficiency.”
Chief Executive Officer, Mr. Lee Yo-Hunn of PIVB said, “We are proud to be the Principal Adviser, Sponsor, Sole Underwriter and Sole Placement Agent of Mercury Securities and to play a part in Mercury Securities’ new corporate journey as a listed company on the ACE Market of Bursa Malaysia Securities Berhad. The listing will certainly augur well for Mercury Securities to tap on the capital market for its growth and expansion plans.”
Mercury Securities Group Berhad: https://www.mercurysecurities.com.my/