Group to raise RM28.8m from listing

KUALA LUMPUR: QES Group Bhd to raise RM28.8mil from issuance of 151.66 million new shares at 19 sen each from its proposed listing on ACE Market of Bursa Malaysia.

The company, which is involved in optical inspection and automated handling equipment, said on Thursday the public issue involved 37.91 million shares to the public while 9.26 million shares would be made available to the directors and staff.

Under the listing exercise, it would also place out 104.48 million shares to selected investors.

QES major shareholders will also offer for sale of 75.83 million existing shares which will be placed out to dentified bumiputera investors approved by the Ministry of International Trade and Industry.

M&A Securities will underwrite a total of 47.18 million new shares made available for the Malaysian Public and its eligible directors and employees.

It is tentatively set to be listed on March 8.

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