Mercury Securities Group Berhad, a prominent investment holding company, has taken a significant step towards its growth and expansion plans by entering into an underwriting agreement with Public Investment Bank Berhad (PIVB) for its upcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Berhad.
The group, through its wholly-owned subsidiary, Mercury Securities Sdn Bhd, is primarily engaged in providing stockbroking, corporate finance advisory services, and related businesses, including margin financing facilities services, underwriting and placement services, and nominee and custodian services.
The IPO will involve the issuance of 157.10 million new ordinary shares (Issue Shares) and an offer for sale of 71.51 million existing ordinary shares (Offer Shares), collectively representing 17.59 per cent and 8.01 per cent respectively of Mercury Securities’ enlarged issued shares of 893,000,000 ordinary shares upon its listing.
The allocation of Issue Shares and Offer Shares is as follows:
PUBLIC ISSUE
- Malaysian Public: 44.65 million Issue Shares (5.00 per cent of the enlarged issued share capital) for application by Malaysian public, with 50.00 per cent reserved for Bumiputera investors.
- Eligible Persons: 22.33 million Issue Shares (2.50 per cent of the enlarged issued share capital) for application by eligible directors, employees, and contributors to the Group’s success.
- Selected Investors: 45.47 million Issue Shares (5.09 per cent of the enlarged issued share capital) made available through private placement to selected investors.
- Bumiputera Investors approved by MITI: 44.65 million Shares (5.00 per cent of the enlarged issued share capital) made available through private placement to Bumiputera investors approved by the Ministry of Investment, Trade, and Industry (MITI).
OFFER FOR SALE
- Selected Investors: 4.53 million Offer Shares (0.51 per cent of the enlarged issued share capital) made available through private placement to selected investors.
- Bumiputera Investors approved by MITI: 66.98 million Offer Shares (7.50 per cent of the enlarged issued share capital) made available through private placement to Bumiputera investors approved by MITI.
PIVB will underwrite 66.98 million Issue Shares, which will be made available for application by the Malaysian Public and Eligible Persons.
Chew Sing Guan, the Managing Director of Mercury Securities, expressed his optimism about the listing, stating that it would enhance the company’s visibility and reputation in the marketplace. The IPO will allow directors, employees, business partners, and public investors to participate in the company’s growth, contributing to increased shareholder value. He emphasized the Group’s commitment to innovation and digitalization to provide exceptional products and solutions to customers efficiently.
Lee Yo-Hunn, the Chief Executive Officer of PIVB, expressed pride in their role as the Principal Adviser, Sponsor, Sole Underwriter, and Sole Placement Agent for Mercury Securities. He believes that the IPO will pave the way for the company to tap into the capital market for future growth and expansion.
Mercury Securities’ listing on the ACE Market is expected to open up new opportunities and enable the company to respond to the evolving needs of its customers and industry trends, positioning the Group for new heights in its corporate journey as a listed company on Bursa Malaysia Securities Berhad.
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