EMPG appoints Berjaya Securities as underwriter for planned ACE Market IPO
The apparel group intends to use IPO proceeds for more consignment counters and boutiques in Malaysia, as well as working capital.
EMPG Group Bhd has engaged Berjaya Securities Sdn Bhd to underwrite part of its proposed IPO on the ACE Market, the clothing designer and manufacturer said in a statement. The two companies have signed an underwriting agreement.
The arrangement covers shares allocated to the Malaysian public and to eligible persons under the pink form allocation. EMPG did not disclose a timetable for the IPO.
Managing director Loh Tau Sing said the funds raised would support the opening of additional boutiques and consignment counters around Malaysia. Some proceeds are also earmarked for working capital for the group’s brands.
Based in the Klang Valley, EMPG designs and sells men’s, women’s and children’s clothing through standalone shops in the region and e-commerce platforms. It also carries out apparel wholesaling and fabric sourcing. Its brands include Exhaust, Idexer, Silverland, Brittania, Ventine, Millward, Aplus, John River, Oxen, Elmer and MU-7.
WYNCORP Advisory Sdn Bhd is advising EMPG on corporate finance.
