EcoSys Signs Underwriting Agreement With M&A Securities Ahead Of ACE Market IPO
KUALA LUMPUR, Aug 6 (Bernama) -- Industrial solutions provider EcoSys (Malaysia) Bhd has signed an underwriting agreement with M&A Securities Sdn Bhd in preparation for its upcoming listing on the ACE Market of Bursa Malaysia Securities Bhd through an initial public offering (IPO).
In a statement today, the company said its IPO comprises a public issue of 145.70 million new shares, representing 25.5 per cent of the group’s enlarged issued share capital of 571.35 million shares upon listing.
Of the total of 145.70 million new shares, 28.56 million shares, or five per cent of the enlarged issued share capital, will be made available to the Malaysian public, with 14.28 million shares allocated to Bumiputera public investors and the remaining 14.28 million shares to other Malaysian public investors.
Another 11.43 million shares, or two per cent of the enlarged issued share capital, will be allocated to eligible directors, employees and individuals who have contributed to the group’s success under the Pink Form allocation.
Meanwhile, 71.42 million shares, or 12.5 per cent of the enlarged issued share capital, would be reserved for private placement to Bumiputera investors approved by the Ministry of Investment, Trade and Industry (MITI).
The remaining 34.28 million shares, or six per cent of the enlarged issued share capital, would be allocated through a private placement to selected investors.
“There is no offer for sale under the proposed IPO,” it said.
Meanwhile, Ecosys said that M&A Securities would underwrite 40.00 million new shares allocated to the Malaysian public and eligible individuals under the Pink Form Allocation.
The remaining 105.70 million new shares would be placed out to Bumiputera investors approved by MITI and selected investors by M&A Securities in its capacity as placement agent.
The IPO is expected to raise gross proceeds of RM39.34 million.
The proceeds would primarily be used to expand the group’s abatement segment through the purchase of key components and modules for abatement systems.
Funds would also be used to repay bank borrowings, invest in machinery and manpower, expand the group’s presence in India, meet working capital requirements and defray listing expenses.
EcoSys provides solutions that support applications across semiconductor manufacturing equipment, front-end semiconductor production, solar photovoltaic panel manufacturing equipment and industrial gas supply systems.
The company and its subsidiaries own the EcoSys brand and the intellectual properties associated with its CDO, Vector, Marathon and Guardian ranges of abatement systems.
EcoSys obtained Bursa Malaysia Securities’ approval for its ACE Market listing on June 8, 2026.
M&A Securities Sdn Bhd is the principal adviser, sponsor, underwriter, and placement agent for the IPO, while Eco Asia Capital Advisory Sdn Bhd is the financial adviser.
-- BERNAMA