AmInvestment to underwrite Uzma IPO

UZMA Bhd has signed an underwriting agreement with AmInvestment Bank Bhd for its initial public offering (IPO) in respect of its listing on the Second Board of Bursa Malaysia in the third quarter of this year.

In a statement yesterday, Uzma said the IPO entailed a public issue of 20 million new ordinary shares of 50 sen each and an offer for sale of 10 million ordinary shares of 50 sen each at the IPO price of RM1.90 per ordinary share.

It said of the 20 million shares, six million would be issued to the public, nine million to its eligible directors, employees and business associates of the group while three million would be placed out to selected investors. — Bernama