Printing and materials converting specialist, MTAG Group Berhad (“MTAG” or the “Group”) (“丰山集团”), has entered into an underwriting agreement with M&A Securities Sdn. Bhd. (“M&A Securities”) in conjunction with the initial public offering (“IPO”) of MTAG on the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Securities”).
Under the agreement, M&A Securities will underwrite new shares to be made available for the Malaysian public and its eligible directors, employees and persons who have contributed to the success of the Group.
At the signing underwriting ceremony, Group Managing Director of MTAG, Mr. Chaw Kam Shiang ( 周 锦 生 ) said “Following the signing of the underwriting agreement today, we are feeling increasingly excited as we are now one step closer to be a listed company on Bursa Securities. The listing status enhances the Group’s reputation and credibility, accord us greater recognition amongst our investors, stakeholders, existing as well as prospective customers.”
“Meanwhile, the IPO proceeds allow us to execute our expansion strategies, which involves acquiring land for the construction of a new manufacturing plant and investing in machineries to improve capacity and production efficiency. Other utilization of the proceeds from IPO include repayment of bank borrowings, working capital and defraying listing expenses.” Mr. Chaw further added.