UMEDIC GROUP BHD (UMC), which is seeking a listing on Bursa Malaysia, today signed an underwriting agreement with Affin Hwang Investment Bank Bhd (AHIBB), its principal adviser, sponsor, sole placement agent and sole underwriter.
UMC’s initial public offering involves the public issue of 97.22 million new UMC shares. In a joint statement, they said AHIBB is the sole underwriter of up to 31.78 million shares made available for application by the Malaysian public and eligible directors, employees and business associates of UMC.
UMC executive director and group chief executive officer Lim Taw Seong said the company aims to further strengthen its position as a distributor of medical devices in the local market and a manufacturer of medical consumables for distribution in both the local and international markets.
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