IPO Quarry specialist SCH plans listing on ACE market next month

Business & Markets 2013
Written by Ho Wah Foon of theedgemalaysia.com
Tuesday, 10 December 2013 14:03
A + A - Reset
KUALA LUMPUR (Dec 10): Quarry specialist supplier SCH Group Bhd said
today it has signed an underwriting agreement with M&A Securities Sdn Bhd to
be its adviser, sponsor, underwriter and placement agent for its planned listing
on the ACE Market of Bursa Malaysia next month.
The company is scheduled to be listed on the ACE Market of Bursa Securities
by end-January 2014.
Signing on behalf of SCH was its managing Director and deputy chairman Lau
Mong Ling. M&A Securities was represented by its executive director/ head of
operations, Goh Hock Jin.
Under the flotation exercise, SCH will be issuing 90.69 million new shares. Out
of this, 13 million shares will be for the Malaysian public via balloting, 13 million
for its directors, employees and business associates, 45.03 million new shares
for officially-approved Bumiputera shareholders and the remaining 19.66 million are for private placement to identified investors.
As part of this listing exercise, the company will also make an offer for sale of 32.98 million shares by way of private placement to select
investors.
SCH had recently obtained approvals from the authorities for its proposed listing exercise.
“The approval for the listing came at an opportune time as the company is going through an expansion phase,” said Lau in a press
statement.
“We believe a listing on Bursa Securities will also raise our profile as a reputable quarry supplier company. We view this approval as a
testament to the group's growth potential,” he added.
SCH Group is principally involved in business of distribution and supplying of quarry-related products and machinery. It is also involved in
the manufacturing and distribution of quarry grill.
Currently, SCH distributes and supplies its products to more than 500 domestic customers and 30 overseas customers, according to its
press statement.