MST GOLF GROUP INKS UNDERWRITING AGREEMENT WITH RHB INVESTMENT BANK FOR IPO
KUALA LUMPUR, June 7 (Bernama) -- MST Golf Group Bhd has signed an underwriting agreement with RHB Investment Bank Bhd for its proposed initial public offering (IPO) and listing on Bursa Malaysia’s Main Market in the third quarter of 2023 with the prospectus to be launched by end-June.
In a statement today, Malaysia’s largest golf retail chain said that the IPO entails an offering of 228 million ordinary shares, comprising a public issue of 160 million new shares and an offer for sale of up to 68 million existing shares.
There is an institutional offering of up to 178.6 million shares for identified institutional and selected investors, including Bumiputera investors approved by the Investment, Trade and Industry Ministry, the statement said.
There will also be a retail offering of 49.4 million issue shares for the Malaysian public, independent non-executive directors, and eligible employees who have contributed to the group’s success.
MST Golf executive director and group chief executive officer Ng Yap said that the IPO will help to accelerate the retail penetration in other golf markets in Southeast Asia, starting with Indonesia, Thailand and Vietnam.
It owns and operates 42 retail outlets comprising 35 in Malaysia and seven in Singapore.
RHB Investment Bank will underwrite the 41.5 million shares made available for the Malaysian public under the retail offering tranche. The investment bank is the principal adviser, sole underwriter, and sole placement agent for the IPO exercise.
-- BERNAMA
BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; www.bernama.com; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 IFLIX channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies.
Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial
