Evergreen Max Cash Capital Berhad (“EMCC” or the “Group”) has entered into an underwriting agreement with Mercury Securities Sdn Bhd (“Mercury Securities”) in conjunction with its upcoming initial public offering (“IPO”) and listing on the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Securities”).
EMCC’s IPO will involve a public issue of 267.6 million new ordinary shares in EMCC (“Shares”), representing 24.0% of its enlarged issued Shares, and an offer for sale of 43.0 million existing Shares, or 3.9% of its enlarged issued Shares, to selected investors by way of placement.
Out of the 267.6 million new Shares, 55.7 million Shares will be made available to the Malaysian public via balloting; 27.9 million Shares for its eligible Directors and employees as well as persons who contributed to the success of the Group (“Pink Form Allocations”); 44.6 million shares by way of placement to selected investors; while the remaining 139.4 million shares are earmarked for selected Bumiputera investors approved by MITI (Ministry of Investment, Trade and Industry).
Pursuant to the underwriting agreement, Mercury Securities will underwrite a total of 83.6 million Shares made available to the Malaysian public and for the Pink Form Allocations.
EMCC is scheduled to be listed on the ACE Market of Bursa Securities by September 2023, with Mercury Securities as the Principal Adviser, Sponsor, Underwriter and Placement Agent for its IPO.
For media coverage, please refer link below:
- https://www.bharian.com.my/bisnes/korporat/2023/08/1134443/syarikat-pajak-gadai-emcc-bakal-ke-bursa-malaysia
- https://theedgemalaysia.com/node/676953
- https://www.sinchew.com.my/20230801/%e8%8b%8c%e8%8f%81%e8%b5%84%e6%9c%ac/
- https://www.thestar.com.my/business/business-news/2023/08/01/evergreen-max-inks-underwriting-agreement-with-mercury-securities-for-ace-market-ipo
