Semico Capital Inks Underwriting Agreement For IPO

KUALA LUMPUR, Nov 24 (Bernama) -- Semico Capital Bhd has signed an underwriting agreement with Affin Hwang Investment Bank Bhd for its upcoming initial public offering (IPO) en route to a listing on the ACE Market of Bursa Malaysia.

The provider of family entertainment products and services as well as toys and collectables wholesale and distribution company said in a statement today that the upcoming IPO entails a public issue of 92.7 million new ordinary shares (issue shares) representing 25.7 per cent of the enlarged share capital and an offer for sale of 18 million existing shares (offer shares), representing five per cent of the enlarged share capital.

"Of the 92.7 million issue shares, 18 million issue shares will be made available to the Malaysian public via balloting; 15 million issue shares to eligible directors, employees, and business associates who have contributed to the success of the group (pink form allocation); and the remaining 59.7 million issue shares will be made available by way of private placement to selected investors.

"Meanwhile, the 18 million offer shares will be made available by way of private placement to selected investors," it said.

The company said Afffin Hwang has agreed to underwrite a total of 33 million issue shares made available to the Malaysian public and pink form allocation.

Semico Capital's executive director cum chief executive officer Tai Lee Chuen said the underwriting agreement sets the stage for its next phase of growth as the company works to strengthen its market position and expand its reach to meet the customers’ needs.

Semico Capital is scheduled to be listed on the ACE Market by January 2026 and Affin Hwang serves as the principal adviser, sponsor, sole placement agent and sole underwriter for the IPO.

-- BERNAMA