TA Securities to underwrite SKA Capital's Malaysian public portion in ACE Market IPO
KUALA LUMPUR: SKA Capital Bhd has signed an underwriting agreement with TA Securities Holdings Bhd for its proposed listing on the ACE Market of Bursa Malaysia, where the stock broking company will underwrite the entire portion of the new shares offered to the Malaysian public investors and eligible persons.
SKA Capital Bhd has entered into an underwriting agreement with TA Securities Holdings Bhd for its planned listing on the ACE Market of Bursa Malaysia. TA Securities will be the primary underwriter for the public portion of the new shares offered to Malaysian investors and eligible persons in the IPO. The IPO will involve issuing 168.08 million new shares and selling 72.4 million existing shares.
SKA Capital will offer 44.78 million new shares for sale to Malaysian public investors, 8.96 million shares to eligible directors, employees, and contributors. The remaining 111.94 million shares will be allocated to Bumiputera investors and selected investors. SKA Capital provides power infrastructure engineering services and trades electrical devices, equipment, and construction materials.
With 17 years of operating experience, the company holds CIDB Grade G7 contractor registration, is registered with Tenaga Nasional Bhd and the Ministry of Finance, and is a Class A electrical contractor with the Energy Commission. SKA Capital's managing director, Datuk Subas Kumar AL Ambairam, believes the IPO will enhance the company's financial position and capabilities, enabling it to tackle larger projects and explore new opportunities in Malaysia's growing power sector. TA Securities is the principal adviser, sponsor, underwriter, and placement agent for the IPO.
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