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KUALA LUMPUR: Mercury Securities Group Bhd aims to raise RM39.27 million from its initial public offering (IPO), which entails the issuance of 157.09 million shares at 25 sen per unit, on Bursa Malaysia’s ACE Market on Sept 19.
In a statement today, it said the proceeds would be used for margin financing facility services (RM26.86 million), enhancement of digitalisation programme and marketing activities for stockbroking business and operations (RM2.88 million), working capital (RM4.63 million) and estimated listing expenses (RM4.90 million).
Managing director, Chew Sing Guan said the group plans to leverage the listing to continue to innovate, digitise and expand its product and service offerings.
“We will be the first stockbroking company to seek and gain an IPO listing in Bursa in the last 20 years,” he said.
Applications for the public issue of the shares are open from today and will close at 5 pm on Sept 5, 2023.
Upon its listing on the ACE Market, Mercury Securities will have a market capitalisation of RM223.25 million based on the issue price of RM0.25 per share and its enlarged issued share capital of 893.00 million shares.
Public Investment Bank Bhd is the principal adviser, sponsor, sole underwriter and sole placement agent for the IPO exercise.
Mercury Securities is an investment holding company, and through its wholly-owned subsidiary, Mercury Securities Sdn Bhd, is principally involved in the provision of stockbroking, corporate finance advisory services and related businesses such as margin financing facilities services, underwriting and placement services, as well as provision of nominee and custodian services. – Bernama
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