Ekonusa Mulls ACE Market IPO

Ekonusa is gearing up for an initial public offering on the ACE Market of Bursa Malaysia, seeking a listing through a public issue of 121 million new shares and an offer for sale of 24 million existing shares. The plastics products manufacturer said the IPO will comprise 24 million shares for the Malaysian public, 12 million shares for eligible directors, employees and contributors, and 85.03 million shares for selected investors via private placement. The existing shares will also be offered to selected investors through private placement. Affin Hwang Investment Bank is the principal adviser and sponsor for the listing, the filing said.