17/05/2024 03:31 PM

KUALA LUMPUR, May 17 (Bernama) -- BWYS Group Bhd has entered into an underwriting agreement with M&A Securities Sdn Bhd for its initial public offering (IPO) on the ACE Market of Bursa Malaysia.

The sheet metal manufacturer said in a statement the IPO exercise encompasses a public issuance of 256.3 million new ordinary shares, representing 25 per cent of its enlarged share capital, as well as an offer for sale of 100 million existing shares, or 9.8 per cent of its enlarged share capital, via private placement to selected investors. 

Out of the 256.3 million new ordinary shares, 51.3 million issue shares will be made available to the Malaysian public via a balloting process and 61.5 million issue shares to its eligible directors, employees and persons who have contributed to the success of BWYS.

The remaining 128.2 million shares by way of private placement to Bumiputera investors are approved by the Ministry of Investment, Trade and Industry while the remaining portion of 15.4 million shares are reserved for private placement to selected investors.

Under the agreement, M&A Securities will underwrite 112.8 million new shares made available to the Malaysian public and pink form allocations. 

Executive director and managing director Kang Beng Hai said the listing would unlock greater resources and flexibility to expedite the company’s expansion strategies and pursue new avenues for growth.

There are plans to extend its reach to foreign markets in Southeast Asia, the Middle East and South America.

He said the company plans to expand operational facilities and increase production capacity by constructing a new factory and acquiring new machinery and equipment for business expansion. 

"Additionally, we are broadening our roofing product range by venturing into the manufacture of polyurethane foam sandwich panels, which offer insulation properties against heat and noise," he said. 

Kang said the Malaysian economy is set to continue its expansion, supported by growth in key user industries including building construction, manufacturing as well as wholesale and retail trade industries. 

"This aligns well with the New Industrial Master Plan 2030, which aims to drive growth in the country's manufacturing and related service sectors, including the metal sector.

"These developments create a conducive environment for continued demand for sheet metal products, offering significant growth prospects and opportunities for BWYS," he said.

BWYS is scheduled to be listed on the ACE Market of Bursa Securities by July 2024, with M&A Securities as the principal adviser, sponsor, underwriter and placement agent for the IPO exercise. 


BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires;; 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 :, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial

© 2024 BERNAMA   • Disclaimer   • Privacy Policy   • Security Policy