EMPG Group Berhad announced that it has obtained the approval-in-principle from Bursa Malaysia Securities Berhad for its proposed listing on the ACE Market of Bursa Securities.
The Group is involved in apparel for men, women and children. Its retail network comprises Consignment Counters across Malaysia, standalone Retail Outlets in the Klang Valley and e-commerce platforms. EMPG Group’s portfolio includes brands owned by the Group such as Exhaust, Idexer, Silverland, Brittania, Ventine, Millward, Aplus, John Rider, Oxen, Elmer and MU-7 brands, as well as the brands licensed to the Group such as Hummer and Pierre Cardin brands.
The proposed IPO comprises a public issue of 121.60 million new ordinary shares in EMPG and an offer for sale of 48.50 million existing Shares.
30.30 million new Shares or approximately 5.00% of the Group’s enlarged issued share capital will be made available for application by the Malaysian Public by way of balloting, of which 50% will be set aside for Bumiputera public investors.
48.50 million existing Shares or approximately 8.00% of the Group’s enlarged issued share capital will be made available for application by way of private placement to selected investors.
The IPO proceeds are intended to be utilised for the expansion of the Group’s retail network, additional working capital and estimated listing expenses. EMPG plans to open 100 new Consignment Counters and 15 boutiques within 24 months from the date of listing for the Hummer and Pierre Cardin brands, as well as other existing brands. The additional working capital is intended to support the Group’s day-to-day operating costs, primarily to fund the purchase of its in-house brand products.
Berjaya Securities Sdn Bhd (formerly known as Inter-Pacific Securities Sdn Bhd) is the Principal Adviser, Sponsor, Underwriter and Placement Agent for the IPO, while WYNCORP Advisory Sdn Bhd is the Corporate Finance Adviser.
