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| “RHB IB’s appointment as our principal adviser, sponsor, underwriter and placement agent brings us another step forward in our listing process with its wealth of experience, which will be invaluable to the company, going forward,” Managing director and chief executive officer James Lim (pic) said |
PETALING JAYA: Salutica Bhd has signed an underwriting agreement with RHB Investment Bank Bhd (RHB IB) for the company’s proposed initial public offering (IPO) on the ACE Market of Bursa Malaysia.
The Ipoh-based, one-stop solutions provider for the manufacturing of consumer electronic products had obtained Bursa Securities’ nod for a listing on the stock exchange.
Managing director and chief executive officer James Lim (pic) said the company was thankful to its advisers for hard work in preparation for the IPO. “RHB IB’s appointment as our principal adviser, sponsor, underwriter and placement agent brings us another step forward in our listing process with its wealth of experience, which will be invaluable to the company, going forward,” said Lim in a statement.
Salutica’s proposed IPO will involve a public issue of 78.0 million new shares of RM0.10 each, comprising 19.4 million shares offered to the public, 9.7 million shares for eligible directors and employees as well as persons who have contributed to the success of Salutica and its subsidiary, 10.1 million shares for private placement to institutional and identified investors as well as 38.8 million shares by way of private placement to identified bumiputera investors approved by the International Trade and Industry Ministry.
The sale of 23 million existing shares by way of private placement would be offered to institutional and identified investors.
Apart from developing its in-house brand FOBO, which uses Bluetooth technology and other wireless, and touch screen light-guide technologies, Salutica also provides manufacturing services for other electronics and precision parts and component such as 3D glasses, camera lenses and subparts, optical light guides, and electronic locks.
SALUTE (0183) - Salutica signs underwriting deal with RHB IB for IPO
http://www.thestar.com.my/business/business-news/2016/04/12/salutica-signs-underwriting-deal-with-rhb-ib/
