Well Chip Group Bhd, principally involved in the provision of pawnbroking services and the trading of jewellery and gold, has marked a new milestone with its successful IPO Prospectus Ceremony held on June 26, 2024. This event was a significant step in the company’s journey to go public on the Main Market of Bursa Malaysia.
The IPO includes the issuance of new ordinary shares, with allocations for the Malaysian public, Bumiputera investors, and institutional investors through private placements. The raised funds will primarily be used to bolster the capital of existing pawnshops and facilitate their expansion.
Well Chip is committed to recommending and distributing dividends to its shareholders for the first three years following its listing. The company is scheduled to be listed on July 23.
Singapore-based ValueMax Group Ltd, through its subsidiaries, will be the largest shareholder of Well Chip upon listing. 0Kenanga Investment Bank Bhd is the principal adviser for this IPO exercise, with CGS International Securities Malaysia Sdn Bhd also acting as a joint underwriter and placement agent.
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The IPO Prospectus Ceremony was a momentous occasion that celebrated Well Chip Group Bhd’s growth and future potential. The company is poised for further success as it embarks on this new chapter.
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