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KUALA LUMPUR (Sep 24): Mr DIY Group (M) Bhd, which plans to list on the Bursa Malaysia main market, will issue 941.49 million new and existing common shares as part of its initial public offering (IPO), it said in a statement today.
The retailer will offer 470.75 million IPO shares to bumiputera investors approved by the Ministry of International Trade and Industry, and 309.21 million existing common shares to institutional and selected Malaysian investors, foreign institutional investors and selected outside the US. And qualified institutional buyers in the country. US.
Meanwhile, its retail offering comprises 36 million new common shares for company directors and employees, as well as eligible individuals who have “contributed to the success of Mr DIY,” and 125.53 million new common shares for the public.
“This event is an important milestone for Mr DIY and brings us one step closer to becoming a publicly traded company. Although markets have been severely affected by the Covid-19 pandemic over the past few months, we have persevered as a group and are pleased to have this opportunity to embark on our next phase of growth, ”said Mr DIY CEO Adrian Ong .
“Leveraging capital markets will help accelerate our growth plans as we continue to expand our store network to capitalize on Malaysia’s under-penetrated home improvement retail sector. This should further strengthen DIY’s position as Malaysia’s largest home improvement retailer, ”he added.
Sources have told The Edge that the listing could take place as early as the fourth quarter of this year, thanks to its V-shaped recovery of the Movement Control Order (MCO) induced by the pandemic that had hit. to retailers.
According to Bloomberg, the IPO aims to raise around $ 500 million (RM 2.1 billion). It was postponed twice: late last year and in the first half of this year, due to the MCO.
According to Mr DIY, it operates 640 stores in Malaysia and four stores in Brunei under the Mr DIY brand as of September 6. It also operates the Mr Toy chain of stores that offers affordable toys and products for children and babies, and Mr Dollar, which sells food and beverages and household items at RM2 or RM5.
The group has signed an underwriting agreement with CIMB Investment Bank, Maybank Investment Bank, RHB Investment Bank, AmInvestment Bank, Hong Leong Investment Bank and Kenanga Investment Bank.
CIMB IB, Maybank IB and RHB IB are the jointly managed underwriters and joint underwriters, while AmInvestment, Hong Leong IB and Kenanga IB are the joint underwriters for this initial public offering exercise.
CIMB IB and Maybank IB are also the joint lead advisors, joint global coordinators and joint book brokers, while RHB IB is also the joint global coordinator and joint book broker.
Meanwhile, Credit Suisse Securities (Malaysia) Sdn Bhd, Credit Suisse (Singapore) Ltd, JP Morgan Securities plc and JPMorgan Securities (Malaysia) Sdn Bhd are the joint global coordinators and joint brokers, and UBS Securities Malaysia Sdn Bhd and UBS AG , Singapore Branch are the joint book brokers.
Read also:
News: Mr DIY’s listing moved to 2020
Mr DIY’s new listing is ready to liven up the IPO scene
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