In its press statement today, the group said its IPO will involve a public issuance of 157.1 million new shares and an offer for sale of 71.51 million existing ordinary shares, representing 17.59% and 8.01% respectively of the group’s enlarged share base of 893 million ordinary shares upon its listing.

Of the publicly issued shares, 44.65 million (5%) will be made available to the Malaysian public, of which 50% is to be allocated to Bumiputera investors.

Another 22.33 million (2.5%) will be opened for application by eligible company directors, employees and persons, followed by 45.47 million shares (5.09%) to be made available via private placement to selected investors.

The remaining 44.65 million shares (5%) will be made available by way of private placement to Bumiputera investors approved by the investment, trade and industry ministry.

The statement said PIVB will underwrite 66.98 million issued shares made available for application by the Malaysian public and eligible persons.

Mercury Securities through its wholly owned subsidiary, Mercury Securities Sdn Bhd, is principally involved in the provision of stockbroking, corporate finance advisory services and other related businesses.

Mercury Securities managing director Chew Sing Guan said the IPO will enhance the group’s visibility and reputation in the marketplace.

It will also enable the group’s directors, employees, business partners and public investors to participate in its growth and business expansion while increasing shareholders’ value, he added.

“This corporate milestone will help scale our group to new heights by tapping new opportunities, and to respond to the evolving needs of our customers and trends in the marketplace,” Chew said.

PIVB CEO Lee Yo-Hunn said the listing will enable Mercury Securities to tap the capital market for its growth and expansion plans.

“We are proud to be the principal adviser, sponsor, sole underwriter and sole placement agent of Mercury Securities and to play a part in its new corporate journey as a listed company on the ACE Market,” he said.