Keyfield signs IPO underwriting agreement with M&A Securities
PETALING JAYA: Keyfield International Bhd has signed an underwriting agreement with M&A Securities Sdn Bhd in conjunction with its upcoming initial public offering (IPO) and listing on the Main Market of Bursa Malaysia.

Keyfield is principally involved in the chartering of vessels, particularly accommodation work boats.

Presently, the group owns 11 Malaysian-flagged vessels with capacities ranging from 50 to 500 persons.

In a statement, Keyfield said the IPO entails the public issue of 209 million new Keyfield shares, representing 26.1% of its enlarged share capital upon listing.

Out of this, 40 million shares will be offered to the Malaysian public via balloting while 24 million shares will be made available to eligible directors, employees and persons who have contributed to the success of Keyfield group.

Meanwhile, 73 million shares will be offered to selected bumiputra investors approved by the Investment, Trade and Industry Ministry and the remaining 72 million will be set aside for private placement to selected investors.

Keyfield group chief executive officer and executive director Datuk Darren Kee said the signing of the underwriting agreement with M&A Securities marks a significant milestone towards the listing on the Main Market of Bursa Malaysia.

Pursuant to the underwriting agreement, M&A Securities will underwrite the 64 million shares made available for application by the Malaysian public, Keyfield’s eligible directors and employees and persons who have contributed to the success of the group.

Keyfield is expected to launch its prospectus at end-March 2024 and list at end-April 2024.
Corporate News,KeyfieldIPO,BursaMalaysia,MainMarket,Listing,accommodationvessels
Keyfield International Bhd has signed an underwriting agreement with M&A Securities Sdn Bhd in conjunction with its upcoming initial public offering (IPO) and listing on the Main Market of Bursa Malaysia.