Pan Merchant Capital has committed in principal and has now signed an official underwriting agreement. It is now preparing for its debut public listing (IPO) on the ACE Market of Bursa Malaysia. Their ambition is to be the first choice provider of solid-liquid separation solutions. This is a significant achievement landmark for the industry within Malaysia.
The IPO will have 114.5 million new shares available. The bulk of these shares will go to non-accredited investors, retail investors, institutions and others. The company plans to offer 18 million of its shares on an offer-for-sale basis to qualified institutional buyers. Wong Voon Ten, our Chief Executive Officer, will conduct this private placement.
The company has announced its intention to issue 45.8 million new shares to the Malaysian public. They’ll accomplish this through a balloting process that will give wider access to these shares. We hope to see you there! We intend to set aside 14.6 million shares for directors, employees and chapter contributors that have been key to the organization’s success.
Affin Hwang Investment Bank Berhad serves as the principal advisor, underwriter, and placement agent for this IPO exercise. As such, they have become the key adviser, key sponsor, sole placement agent and sole underwriter for Pan Merchant. Their participation further emphasizes the confidence in Pan Merchant’s business model and growth trajectory.
Upon listing, Pan Merchant will be the only solid-liquid filtration solutions provider on Bursa Malaysia’s Main Market. This move helps cement its distinctive status on the exchange, further entrenching it as the largest homegrown player in Malaysia’s solid-liquid filtration solution industry by revenue. Said Nurjesmi Mohd Nashir, an analyst at Affin Hwang.
We will issue 57.3 million shares to chosen investors in private placement. This second step is designed to encourage strategic collaborations that advance our growth priorities. The allocation strategy showcases Pan Merchant’s dedication to mitigating risk by partnering with investors who understand and support Pan Merchant’s vision for the future.
Wong expressed optimism regarding the IPO, stating, “As we embark on this IPO, we are eager to tap into the opportunities the capital market offers to drive our next phase of growth with our listing status. We strongly believe that being listed on Bursa Malaysia will position us with enhanced credibility among customers worldwide for our long-term success and expansion into new regions and industries.”
Given the solid fundamentals and growth prospects, industry experts are predicting massive investor interest in Pan Merchant’s upcoming IPO. Nurjesmi Mohd Nashir further commented, “With the group’s strong fundamentals, growth prospects, industry experience and niche expertise, we are optimistic that Pan Merchant will garner strong investor interest.”
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