News Formal

Mercury Securities to raise RM39mil from ACE Market IPO

  • 📰 fmtoday
  • ⏱ Reading Time:
  • 30 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 72%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

The stockbroking firm intends to offer a public issue of 157.09 million new shares at 25 sen apiece.

PETALING JAYA: Stockbroking firm Mercury Securities Group Bhd aims to raise RM39.27 million from its initial public offering on Bursa Malaysia’s ACE Market on Sept 19.

Proceeds generated from the IPO will primarily be allocated towards the expansion of the company’s margin financing services, with RM26.86 million earmarked for this purpose. Meanwhile, the company has allocated RM4.63 million for operational funding, and the remaining RM4.90 million will be utilised to address anticipated costs related to the listing process.

During the group’s prospectus launch today, managing director Chew Sing Guan said that Mercury Securities is poised to become the first stockbroking firm in 20 years to undertake an IPO listing on Bursa.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

China halves stamp duty on stock trading to boost marketThe lower duty on stock trades will come into effect tomorrow.
Source: fmtoday - 🏆 5. / 72 Read more »

China halves stamp duty on stock trades to boost flagging marketBEIJING, Aug 27 — China halved the stamp duty on stock trading effective tomorrow in the latest attempt to boost the struggling market as a recovery sputters in the world's...
Source: malaymail - 🏆 1. / 86 Read more »