EMPG Group has signed an underwriting agreement with Berjaya Securities Sdn Bhd in conjunction with its Initial Public Offering and proposed listing on the ACE Market.
The IPO comprises a public issue of 121.60 million new ordinary shares in EMPG and an offer for sale of up to 48.50 million existing Shares with 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.
Up to 48.50 million existing Shares or approximately up to 8.00% of the Group’s enlarged issued share capital will be made available by way of private placement to selected investors.
Under the underwriting agreement, Berjaya Securities will underwrite 34.60 million new Shares, comprising 30.30 million Shares made available to the Malaysian Public and 4.30 million Shares made available to eligible Directors and employees of the Group, subject to the clawback and reallocation provisions.
Mr. Loh Tau Sing, Managing Director of EMPG Group Berhad, said, “The IPO will provide us with the resources to accelerate the expansion of our retail network across Malaysia, particularly for the Hummer and Pierre Cardin brands, while strengthening our working capital to support our in-house brands. We look forward to welcoming new shareholders as we build a more scalable multi-brand apparel platform.”
The Group expects to raise gross proceeds from the public issue, which will be allocated mainly towards the expansion of its retail network, additional working capital and estimated listing expenses.
Berjaya 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.
