DPI appoints Affin Hwang for IPO

by TMR

DPI Holdings Bhd has appointed Affin Hwang Investment Bank Bhd as the principal advisor, sponsor, underwriter and placement agent for its proposed initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Bhd.

The aerosol paints producer said the proposed IPO entails a public issue of 126.5 million new shares, representing 26% of the group’s enlarged share capital.

Of the 126.5 million shares, 24.3 million shares will be open for application by the public and 14.1 million by eligible directors, employees and persons who have contributed to the success of the company.

Meanwhile, 39.4 million shares are allocated for private placement to identified investors and 48.7 million shares for private placement to Bumiputera investors identified by the Ministry of International Trade and Industry. The company expects the shares will be listed in January 2019.

“With the underwriting agreement now completed, we are now heading closer towards our IPO which will propel us into the next stage of growth,” said DPI executive chairman and MD Peter Chai.