Kuala lumpur: Semico Capital Bhd has signed an underwriting agreement with Affin Hwang Investment Bank Bhd for its upcoming initial public offering (IPO) en route to a listing on the ACE Market of Bursa Malaysia.

According to BERNAMA News Agency, the provider of family entertainment products and services, along with toys and collectables wholesale and distribution, announced that the IPO involves a public issue of 92.7 million new ordinary shares, representing 25.7 per cent of the enlarged share capital, and an offer for sale of 18 million existing shares, representing five per cent of the enlarged share capital.

“Of the 92.7 million issue shares, 18 million issue shares will be made available to the Malaysian public via balloting; 15 million issue shares to eligible directors, employees, and business associates who have contributed to the success of the group (pink form allocation); and the remaining 59.7 million issue shares will be made available by way of private placement to selected investors. Meanwhile, the 18 million offer shares will be made available by way of private placement to selected investors,” the company stated.

The company also noted that Affin Hwang has agreed to underwrite a total of 33 million issue shares made available to the Malaysian public and pink form allocation. Semico Capital’s executive director cum chief executive officer Tai Lee Chuen highlighted that the underwriting agreement marks a critical step in the company’s growth strategy, aimed at strengthening its market position and expanding its reach to meet customer needs.

Semico Capital is on track to be listed on the ACE Market by January 2026, with Affin Hwang serving as the principal adviser, sponsor, sole placement agent, and sole underwriter for the IPO.