KGW Group Berhad which is planning to list on the ACE Market has entered into an underwriting agreement with TA Securities Holdings Berhad.
The company is an established provider of logistics services including ocean freight services, air freight services, and freight forwarding services as well as warehousing and distribution of healthcare-related products and devices,
Based on the prospectus exposure as published on the Bursa Securities website, KGW Group’s listing exercise involves the public issue of 79.66 million shares or 16.5% of KGW Group’s enlarged share capital and an offer for sale of 43.45 million shares representing 9.0% of KGW Group’s enlarged share capital at the IPO price.
TA Securities will underwrite the 24.14 million issue shares made available to the Malaysian public.
Managing Director of KGW Group, Dato’ Roger Wong said, “Our future plans include expanding the logistics services business, expanding warehousing and distribution services for healthcare-related products and devices and, seeking opportunities through providing e-commerce solutions supported by our logistics services.”
Head of Corporate Finance of TA Securities, Mr. Ku Mun Fong said, “The Group’s operations are based on an asset-light model as its strength lies in assisting customers in managing and planning their cargo shipment schedules around the world supported by a strong network of suppliers. KGW Group has a track record going all the way back to 2005 with an experienced team.”
As an asset-light logistics services provider offering experience and expertise, the Group has achieved RM195.42 million in revenue in FYE2021 compared to RM63.53 million in FYE 2020 with a gross profit margin of 16.88% and 14.19% respectively.
KGW Group obtained Bursa Securities’ approval for the listing on 13 April 2023.
