RDS Advises Unitrade On Its ACE Market Listing On Bursa Malaysia
Our firm’s Capital Markets Team is proud to be a part of Unitrade Industries Berhad’s successful listing on the ACE Market of Bursa Malaysia as its legal advisers and due diligence solicitors
We wish to congratulate Unitrade Industries Berhad (Unitrade) on its successful listing on Bursa Malaysia Securities Berhad (Bursa Malaysia) on 14 June 2022. Unitrade is one of the largest building material wholesalers and distributers in Malaysia.
Unitrade’s initial public offering (IPO) is the largest listing on the ACE Market of Bursa Malaysia by market capitalisation since the market’s inception in 2009. Its enlarged share capital totaling 1.56 billion shares at an issue price of 32 sen per share gave Unitrade a market capitalisation of RM500 million at its opening on the morning of its listing.
Unitrade raised RM100 million through its IPO to enhance its inventory count and product variety, to construct a new pipe fabrication centre and to repay bank borrowings. Unitrade will be among the first in Malaysia to construct a new pipe-fabrication centre to broaden its value-added service offerings to its customers.
We are proud to have played a part in the listing exercise as Unitrade’s IPO solicitors. Our Capital Markets Head & Partner Ong Eu Jin, senior associate Lee Zai-Lii (Lily), associates Diane Ngu and Jessy Ngwe were the key lawyers.
Our Capital Markets team is active in the IPO space. If you have aspirations to list your company, please contact our Capital Markets Head & Partner Ong Eu Jin at eujin@rdslawpartners.com for further discussion.
More information on Unitrade and its IPO can be found at:
The Star
https://www.thestar.com.my/business/business-news/2022/06/09/unitrade-upbeat-on-construction
The Edge Markets
https://www.theedgemarkets.com/article/unitrade-debut-bursas-ace-market-june-14
NST
https://www.nst.com.my/business/2022/04/792506/unitrade-debut-bursa-ace-market-june-14%C2%A0
16 JUNE 2022
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