A1 AKK inks agreement with AmInvestment Bank
KUALA LUMPUR: ACE Market-bound A1 AK Koh Group Bhd (A1 AKK) has entered into an agreement with AmInvestment Bank Bhd to underwrite 50.4 million shares offered to the Malaysian public and those eligible under pink form allocations.
The processed food and beverage company is issuing up to 109.2 million new shares and offering for sale up to 109.2 million existing shares, each representing 13% of the company's enlarged number of 840 million issue shares.
There will be 50.4 million public issue shares under the retail offering
Of this amount, 42 million shares will be made available to the Malaysian public, while the remaining 8.4 million will be allocated to eligible directors, employees and business associates of the company and its subsidiaries.
Separately, the 58.8 million new shares under the public issue will be allocated to institutional and selected investors through a private placement exercise.
Of the 109.2 million existing shares offered for sale, 105 million shares will be made available for subscription by identified Bumiputera investors approved by the Investment, Trade and Industry Ministry and the remaining 4.2 million shares for subscription by institutional and selected investors, both by way of private placement.
'The listing represents a strategic move to accelerate the group's expansion plans, broaden its distribution networks and market visibility, and allow it to pursue innovation-driven growth initiatives that align with evolving consumer preferences in the competitive food and beverage landscape,' said A1 AKK non-independent managing director Koh Ah Kuan in a statement.
AmInvestment Bank is the appointed principal adviser, sponsor, underwriter and placement agent for A1 AKK's listing on the ACE Market.
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