According to its prospectus, the company intends to offer a public issue of 157.09 million new shares at 25 sen per share in this fundraising initiative.

Proceeds generated from the IPO will primarily be allocated towards the expansion of the company’s margin financing services, with RM26.86 million earmarked for this purpose.

Additionally, RM2.88 million will be directed towards boosting the company’s digitalisation efforts and supporting marketing efforts for its stockbroking operations.

Meanwhile, the company has allocated RM4.63 million for operational funding, and the remaining RM4.90 million will be utilised to address anticipated costs related to the listing process.

After its listing on the ACE Market, Mercury Securities is poised to achieve a market capitalisation of RM223.25 million.

During the group’s prospectus launch today, managing director Chew Sing Guan said Mercury Securities is poised to become the first stockbroking firm in 20 years to undertake an IPO listing on Bursa.

“The capital market is ever-evolving, and Mercury Securities will endeavour to be likewise, and for the better,” he said.

The public issue portion of the IPO will be made available starting today. It closes on Sept 5, at 5pm.

Public Investment Bank Bhd is the principal adviser, sponsor, sole underwriter and sole placement agent for the IPO exercise.