- February 28, 2025
- Posted by: webmaster
- Category: New and Event
KUALA LUMPUR: MSB Global Group Bhd has signed an underwriting agreement with M&A Securities Sdn Bhd for its upcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia.
The aftermarket automotive parts and components supplier said the IPO involved 133 million new shares and 74 million existing shares which accounts for 33.93 per cent of the enlarged issued share capital.
MSB Global said a total of 30.5 million shares or five per cent of its enlarged issued share capital are allocated to the public and are equally split between Bumiputera and non-Bumiputera investors.
A total 6.1 million shares or one per cent of the enlarged issued share capital will be allocated to eligible directors, key senior management and employees through pink form allocations.
For private placement, 76.25 million shares or 12.50 per cent of the enlarged issued share capital are reserved to Bumiputera investors approved by the Investment, Trade and Industry Ministry.
Another 20.15 million shares or 3.3 per cent of the enlarged issued share capital are reserved for private placement to selected investors.
There is also an offer for sale of 74 million shares or 12.13 per cent of the enlarged issued share capital by way of private placement to selected investors.
Under the underwriting agreement, M&A Securities will underwrite 36.6 million shares, comprising those allocated to the Malaysian public and eligible persons via pink form allocations. The remaining 170.40 million shares will be placed to selected investors.
MSB Global managing director Datuk Ow Kee Foo said the IPO will enable the company to expand operations and enhance capabilities, particularly with the establishment of its own automotive lubricant blending plant.
“This expansion from a trading business into manufacturing will enhance our brand image and strengthen our market competitiveness.
“Owning a manufacturing plant also will offer greater flexibility for product customisation and innovation. We are excited to leverage our strong market position to seize emerging opportunities in Malaysia and the region,” Ow added.
