Kuala Lumpur: PEOPLElogy Bhd has entered into an underwriting agreement with Kenanga Investment Bank Bhd to facilitate its initial public offering (IPO) in preparation for its listing on the ACE Market of Bursa Malaysia. PEOPLElogy anticipates the listing to occur in the second quarter of 2025.

According to BERNAMA News Agency, the IPO involves a public issuance of 105 million new shares. Kenanga Investment Bank will underwrite 32.94 million of these shares, with 20.59 million shares available to the Malaysian public through balloting and 12.35 million shares designated for eligible directors, employees, and key contributors to the company. The remaining 72.06 million shares are earmarked for selected bumiputera investors approved by the Ministry of Investment, Trade and Industry (MITI) and for selected investors through private placement.

PEOPLElogy is focused on providing integrated people development solutions across three main business areas: discovery, development, and digital. The company plans to use the IPO proceeds to fund its business expansion, which includes establishing a Cyber Range computer simulation lab, pursuing strategic investments, mergers and acquisitions, software research and development, expanding offices and training centers in East Malaysia, Indonesia, and the Philippines, and setting up a regional office in Singapore. The remaining funds will cover general working capital and listing expenses.

Allen Lee, PEOPLElogy’s executive director and managing director, highlighted the company’s commitment to supporting Malaysia’s digital economy aspirations by equipping individuals, businesses, and the government with essential digital skills through upskilling and reskilling initiatives. Lee expressed confidence that the IPO success would enhance PEOPLElogy’s business profile and future prospects, thus facilitating local and regional business expansion.

Kenanga Investment Bank is serving as the principal adviser, sponsor, underwriter, and placement agent for the IPO.