KUALA LUMPUR: Haily Group Bhd, en-route to a listing on the ACE Market of Bursa Malaysia Securities Bhd on July 21, aims to raise RM20.4 million through its Initial Public Offering (IPO) exercise.
Haily is principally a main contractor involved in building construction of residential and non-residential buildings in the southern region of Peninsular Malaysia, particularly in Johor, and is also involved in the provision of rental of construction machinery.
Chief executive officer and executive director Yoong Woei Yeh said the IPO involved a public issue of 30 million new shares at 68 sen each, representing approximately 16.83 per cent of the enlarged issued share capital of the company.
"Out of the 30 million shares, it is offering 8.92 million shares to the Malaysian public via a balloting process, of which at least 50 per cent will be set aside for Bumiputera investors.
...