Kuala Lumpur, Sept 8: Mercury Securities Group Berhad, a prominent investment holding company, has received an overwhelming response to its IPO from the Malaysian public. The IPO, which opened for subscription for five market days and concluded on September 5, 2023, has been oversubscribed by an impressive 45.45 times.
Mercury Securities, operating through its wholly-owned subsidiary, Mercury Securities Sdn Bhd, is actively engaged in providing a wide range of financial services, including stockbroking, corporate finance advisory services, margin financing facilities, underwriting and placement services, as well as nominee and custodian services. The IPO offered investors an opportunity to be part of this dynamic financial group.
The IPO comprised two main components:
- Public Issue: 157,095,700 new ordinary shares in Mercury Securities were made available at an issue price of RM0.25 per share, representing 17.59 per cent of the enlarged issued shares of the company.
- Offer for Sale: 71,512,300 existing shares were offered at an offer price of RM0.25 per share, constituting 8.01 per cent of the enlarged issued shares of Mercury Securities.
The public portion of the IPO received a staggering 7,957 applications, totaling 1,508,338,900 issue shares, resulting in an oversubscription rate of 66.56 times. Furthermore, for the Bumiputera public portion, 4,969 applications were received for 565,774,500 issue shares, equating to an oversubscription rate of 24.34 times. In total, Mercury Securities received 12,926 applications for 2,074,113,400 issue shares, with a total value of RM518,528,350.00, showcasing an overall oversubscription rate of 45.45 times.
Additionally, all 22,325,000 issue shares available for application by eligible persons were fully subscribed. The Placement Agent has also confirmed that 45,470,700 new shares made available through private placement to selected investors, along with 44,650,000 new shares allocated for private placement to Bumiputera investors approved by the Ministry of International Trade and Industry (MITI), have been fully placed.
Successful applicants can anticipate receiving their notices of allotment on or before September 15, 2023. Managing Director of Mercury Securities, Mr. Chew Sing Guan, expressed his gratitude for the enthusiastic response, stating, “We are deeply grateful for the enthusiastic response we’ve received from investors for our IPO. This reinforces the fact that our Company’s fundamentals and prospects have been positively acknowledged. We shall continue to upscale our growth and create value for our stakeholders going forward.”
Public Investment Bank Berhad served as the Principal Adviser, Sponsor, Sole Underwriter, and Sole Placement Agent in conjunction with the IPO.
The Group is scheduled to list on the ACE Market of Bursa Securities on Sept 19, 2023, marking a significant milestone in Mercury Securities’ journey.
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