The group plans to leverage the listing to continue to innovate, digitise and expand its product and service offerings

MERCURY Securities Group Bhd is set to become the first stockbroking firm to be listed on the Bursa Malaysia in the last two decades.

Headquartered in Butterworth, Penang, Mercury Securities is set to raise RM39.27 million via the issuance of 157.09 million shares at the issue price of RM0.25 per share for the ACE Market listing.

Its wholly owned subsidiary, Mercury Securities Sdn Bhd, is principally involved in the provision of stockbroking, corporate finance advisory services and other related businesses such as margin financing facilities services, underwriting and placement services, as well as provision of nominee and custodian services.

The company intends to allocate 68.4% or RM26.86 million of the proceeds for the margin financing facility services and 7.3% or RM2.88 million for the enhancement of digitalisation programme and marketing activities for the stockbroking business and operation of the group.

Mercury Securities MD Chew Sing Guan (picture, left) said the group plans to leverage the listing to continue to innovate, digitise and expand its product and service offerings.

“With our diverse range of products and services that we now offer, which include stockbroking, corporate finance, proprietary trading, margin financing and research advisory, custodian and nominee services, we are embarking on a journey that is not just a corporate milestone, but a springboard for our group to reach higher and deeper into the capital market,” he said.

He noted that the group has been profitable every single year since it started operations in 1992, despite the ups and downs of the stock market. — TMR