Big Caring Group Signs IPO Underwriting Agreement With Three Investment Banks
KUALA LUMPUR, Oct 14 (Bernama) -- Big Caring Group Bhd (BCG) has entered into an underwriting agreement with Maybank Investment Bank Bhd, RHB Investment Bank Bhd and AmInvestment Bank Bhd for its IPO and listing on Bursa Malaysia's Main Market.
The pharmacy chain’s initial public offering will involve up to 1.9 billion shares, representing 25.5 per cent of the group’s enlarged issued shares.
BCG said in a statement that the offering comprises a public issue of 590.5 million new shares, equivalent to 8.0 per cent of its enlarged issued shares, and an offer for sale of 1.3 billion existing shares, representing 17.5 per cent. Of the total IPO shares, up to 1.6 billion shares, or 21.9 per cent of the enlarged issued shares, will be allocated for institutional investors.
This includes 922.7 million shares offered to Bumiputera investors approved by the Ministry of Investment, Trade and Industry (MITI).
Up to 692.0 million shares will be offered to Malaysian institutional and selected investors, as well as foreign institutional and selected investors outside the United States under Regulation S of the United States Securities Act of 1933.
The retail offering will comprise 267.6 million shares, representing 3.6 per cent of the group’s enlarged issued shares.
Of this, 147.6 million new shares will be made available to the Malaysian public through balloting, with equal allocation between Bumiputera and non-Bumiputera applicants.
The remaining 120 million new shares will be reserved for the group’s directors and eligible employees, as well as individuals who have contributed to its success.
BCG group managing director cum group chief executive officer Lee Meng Chuan said the listing will provide the group with additional resources to support its next phase of growth.
“We continue to focus on expanding our retail footprint, strengthening our omni-channel capabilities, enhancing our distribution infrastructure and broadening our integrated pharmacy offerings. At the same time, we remain committed to disciplined execution and maintaining the service standards that have supported our growth,” he added.
-- BERNAMA