KUALA LUMPUR: UOA Development Bhd has taken a step closer toward listing on the Main Market of Bursa Malaysia after it inked a retail underwriting agreement with its underwriters.
The Underwriters for the company's initial public offering (IPO) are CIMB Investment Bank Berhad, RHB Investment Bank Berhad, OSK Investment Bank Berhad, HwangDBS Investment Bank Berhad and Hong Leong Investment Bank Berhad.
UOA Development chief operating officer David Khor Soo Beng in a statement Wednesday, May 11 said that the implementation of large scale projects like the Mass Rapid Transit would further enhance the value of PROPERTIES [] as well as create a sustainable property market in Klang Valley.
CIMB Group corporate and investment banking deputy chief executive Datuk Charon Wardini thanked the property development group for appointing CIMB as its Principal Adviser, Sole Bookrunner, Managing Underwriter, and Joint Underwriter.
'We are also proud to be associated with UOA Development's impressive journey of growth and to be part of this major milestone in its corporate history.
'This IPO marks yet another landmark achievement for the company and we look forward to being a prominent partner to UOA Development in its next phase of growth,' he said.
UOA Development is involved in property development, CONSTRUCTION [] and property investment. Its development projects are in matured and prime locations, centralised within the Klang Valley.
The company recently received approval from the Securities Commission (SC) the proposed listing of its entire enlarged issued and paid-up share capital of up to 1.19 billion ordinary shares 5 sen each on the Main Market of Bursa Malaysia within the first half of 2011.
The IPO consists of an institutional offering of up to of 337 million shares to Malaysian and foreign institutional and selected investors and a retail offering of 70 million shares to the Malaysian public, eligible directors and employees of UOA Development and its subsidiaries and persons who have contributed to the success of UOA Development and its subsidiaries.
The Underwriters for the company's initial public offering (IPO) are CIMB Investment Bank Berhad, RHB Investment Bank Berhad, OSK Investment Bank Berhad, HwangDBS Investment Bank Berhad and Hong Leong Investment Bank Berhad.
UOA Development chief operating officer David Khor Soo Beng in a statement Wednesday, May 11 said that the implementation of large scale projects like the Mass Rapid Transit would further enhance the value of PROPERTIES [] as well as create a sustainable property market in Klang Valley.
CIMB Group corporate and investment banking deputy chief executive Datuk Charon Wardini thanked the property development group for appointing CIMB as its Principal Adviser, Sole Bookrunner, Managing Underwriter, and Joint Underwriter.
'We are also proud to be associated with UOA Development's impressive journey of growth and to be part of this major milestone in its corporate history.
'This IPO marks yet another landmark achievement for the company and we look forward to being a prominent partner to UOA Development in its next phase of growth,' he said.
UOA Development is involved in property development, CONSTRUCTION [] and property investment. Its development projects are in matured and prime locations, centralised within the Klang Valley.
The company recently received approval from the Securities Commission (SC) the proposed listing of its entire enlarged issued and paid-up share capital of up to 1.19 billion ordinary shares 5 sen each on the Main Market of Bursa Malaysia within the first half of 2011.
The IPO consists of an institutional offering of up to of 337 million shares to Malaysian and foreign institutional and selected investors and a retail offering of 70 million shares to the Malaysian public, eligible directors and employees of UOA Development and its subsidiaries and persons who have contributed to the success of UOA Development and its subsidiaries.
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