Swift Haulage Bhd has inked an underwriting agreement with multiple investment banks, MIDF Amanah Investment Bank Bhd, AmInvestment Bank Bhd, Kenanga Investment Bank Bhd, and UOB Kay Hian Securities (M) Sdn Bhd, for its initial public offering (IPO), which will be listed on the main market of Bursa Malaysia.
Swift Haulage Group CEO Loo Yong Hui stated that the execution of this underwriting agreement moves the company one step closer to being a publicly-traded organisation.
“We will further cement our position as a major total logistics solutions service provider in Malaysia with the additional resources at our disposal,” he said.
The integrated logistics services provider has signed the agreement with MIDF Amanah Investment Bank Bhd, AmInvestment Bank Bhd, Kenanga Investment Bank Bhd, and UOB Kay Hian Securities (M) Sdn Bhd.
The IPO will sell 314.14 million ordinary shares, with 157.14 million new shares and 157 million existing shares.
The institutional offering will consist of up to 275.2 million shares, or 30.93 percent of the enlarged share capital, with 157 million existing shares being offered to institutional and select investors.
The remaining 118.2 million new shares in the institutional offering will be made available to institutional and select investors, including Bumiputera investors approved by the Ministry of International Trade and Industry (MITI).