KUALA LUMPUR, August 20 — Solar District Cooling Group Berhad (SDCG) has officially signed an underwriting agreement with Mercury Securities Sdn Bhd for its upcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Berhad. The IPO will see the issuance of 118,670,000 new ordinary shares, representing 28% of SDCG’s enlarged issued share capital.
The shares will be allocated as follows: 21,192,000 to the Malaysian public, including 50% for Bumiputera investors; 21,192,000 to eligible directors. Employees, and contributors; and 76,286,000 via private placement to selected investors. Mercury Securities will underwrite the shares for the Malaysian public and eligible persons. SDCG’s Managing Director, Mr. Edison Kong, expressed optimism about the IPO’s potential to boost the company’s market presence and drive growth, while Mercury Securities’ Managing Director, Mr. Chew Sing Guan, emphasized the firm’s commitment to supporting SDCG’s expansion plans.
