ACE Market-bound stockbroking firm Mercury Securities to raise RM39m from IPO

KUALA LUMPUR (Aug 28): Mercury Securities Group Bhd, a company heading towards listing on the ACE Market, has unveiled its prospectus today. The company's goal is to collect RM39.27 million by offering 157.09 million shares at an issue price of 25 sen per share during its initial public offering (IPO) process.

According to the stockbroking company, a total of RM26.86 million will be set aside to improve Mercury Securities' margin financing facility services. Additionally, RM2.88 million will be allotted to boost the group's digitalization program and marketing initiatives in relation to its stockbroking business and operations.

The team will also set aside RM4.63 million for operational costs, while the remaining RM4.90 million will be utilized to cater for the predicted expenses related to listing.

Mercury Securities is set to be listed on the ACE Market of Bursa Securities on September 19th.

"At our prospectus launch here on Monday, Chew Sing Guan, managing director of Mercury Securities, expressed gratitude toward our skilled and committed team, as well as our current and potential clients. We are proud to be the first stockbroking company in the last two decades to pursue and achieve an IPO listing on Bursa. With the capital market continuously evolving, Mercury Securities aims to adapt and improve along with it."

After the release of the prospectus, individuals can now apply for the public offering starting on Monday. The deadline for applications is September 5th at 5pm.

After being listed on the ACE Market, Mercury Securities will have a total worth of RM223.25 million. This calculation is based on the price of 25 sen per share and a total of 893 million shares.

Public Investment Bank Bhd holds the key role of being the main advisor, sponsor, exclusive underwriter, and sole agent for the IPO process.

Written ByLam Jian Wyn