STOCKBROKING firm Mercury Securities Group Bhd has unveiled its prospectus today in conjunction with its initial public offering (IPO) and listing on the ACE Market of Bursa Malaysia.
The IPO is projected to raise RM39.27 mil via the issuance of 157.09 mil shares at an issue price of 25 sen/share. The proceeds will be allocated in the following manner:
- RM26.86 mil for margin financing facility services;
- RM2.88 mil for enhancement of digitalisation programme and marketing activities for the stockbroking business and group operations;
- RM4.63 mil for working capital; and
- RM4.90 mil for estimated listing expenses.
“We plan to leverage this listing to continue to innovate, digitise and expand our product and service offerings,” commented Mercury Securities’ managing director Chew Sing Guan.
“With our diverse range of products and services that we now offer which include stockbroking, corporate finance, proprietary trading, margin financing and research advisory, custodian and nominee services, we are not only embarking on a corporate milestone but a springboard for our group to reach higher and deeper into the capital market.”
Added Chew: “Mercury has been profitable every single year since it started operations in 1992 despite the ups and downs of the stock market. We will be the first stockbroking company to seek and gain an IPO listing in Bursa in the last 20 years.”
Meanwhile, Public Investment Bank Bhd’s (PIVB) deputy CEO Alyn Lim Geok Lian said Mercury Securities’ long-standing presence has not just fortified its market position but “also allowed them to create an enduring client base that acts as a springboard for future growth”.
“This would not have been possible if it wasn’t for Chew’s strong leadership who has guided the group to where it is today. We believe that the group is in capable hands and will continue to scale greater heights and create more value for all its stakeholders,” she noted.
Pursuant to the launch of Mercury Securities’ prospectus, applications for the public issue are open from today and will close on Sept 5 at 5pm. Mercury Securities is scheduled to be listed on the ACE Market of Bursa Securities on Sep 19.
Upon its listing on the ACE Market, Mercury Securities will have a market capitalisation of RM223.25 mil based on the issue price of 25 sen/share and its enlarged issued share capital of 893 million shares.
PIVB is the principal adviser, sponsor, sole underwriter and sole placement agent for this IPO exercise. – Aug 28, 2023