PETALING JAYA: Advance Technologies Asia Bhd, a mechanical and electrical (M&E) engineering solutions provider, has signed an underwriting agreement with Malacca Securities Sdn Bhd, the principal adviser, sponsor, underwriter and placement agent, for its upcoming initial public offering (IPO) and listing on the ACE Market of Bursa Malaysia.
Advance Technologies Asia’s IPO comprises a public issue of 103.60 million shares, equivalent to approximately 22.82% of the group’s enlarged issued share capital.
Of the allocated shares, 22.70 million shares will be available for application by the Malaysian public, 4.54 million shares by eligible persons, and 76.36 million shares will be available for application by way of private placement to selected investors.
