KUALA LUMPUR: Orkim Bhd has signed a retail underwriting agreement with CIMB Investment Bank Bhd, RHB Investment Bank Bhd, and Affin Hwang Investment Bank Bhd for its initial public offering (IPO), ahead of its listing on the Main Market of Bursa Malaysia Securities Bhd before end of this year.

Orkim group, which is engaged in the ownership, chartering, and operation of vessels, said the IPO will comprise 400 million ordinary shares, consisting of an offer for sale of 300 million existing shares and a public issue of 100 million new shares.

“Of the total, 372 million shares, or 37.2 per cent of the group’s enlarged issued share capital, will be offered through an institutional offering, of which 50 million shares will be allocated to Bumiputera investors approved by the Ministry of Investment, Trade and Industry.

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