Apparel group EMPG one step closer to Bursa listing, plans 15 new boutiques in two years

KUALA LUMPUR: Apparel firm EMPG Group Bhd has received Bursa Malaysia's approval-in-principle for its planned listing on the ACE Market. The company intends to use IPO funds to broaden its retail presence, reinforce its multi-brand approach, bolster operational capabilities and broaden product lines. The IPO will consist of a fresh share issuance of 121.6 million units and a sale of 48.5 million pre-existing shares.

Twenty-five percent of the new shares will be allotted to the public through a ballot, with half designated for Bumiputera investors. Director allocations and private placements will make up the remaining shares. EMPG's managing director, Loh Tau Sing, expressed that the approval advances the company's journey towards the public capital market and sets the stage for its forthcoming expansion.

The IPO will finance the creation of 100 consignment counters and 15 boutiques within 24 months of listing, featuring brands such as Hummer, Pierre Cardin, and others. EMPG's offerings include apparel for men, women, and children via consignment counters, standalone stores in the Klang Valley, and online channels. The company's wholesale operations involve direct sales and fabric sourcing services, with a focus on its branded lines Exhaust, Idexer, Silverland, Brittania, Ventine, Millward, Aplus, John Rider, Oxen, Elmer, and MU-7.

Berjaya Securities Sdn Bhd serves as the principal adviser, sponsor, underwriter, and placement agent for the IPO, while Wyncorp Advisory Sdn Bhd provides corporate finance advisory.