Sasbadi signs IPO agreement with Alliance IB

PETALING JAYA: Sasbadi Holdings Bhd publisher of educational materials, has signed an underwriting agreement with Alliance Investment Bank Bhd (Alliance IB) for its proposed initial public offering (IPO) on the Main Market of Bursa Malaysia Securities Bhd.
Sasbadi IPO entails a public issue of 21.20 million new ordinary shares of 50 sen each and offer for sale of up to 35.95 million existing shares.
"Sasbadi Holdings has an excellent foundation in the publishing business and a wealth of experience in content production which we believe will serve them well as they embark on the next phase of their business. Alliance IB is pleased to play a key role in the listing of Sasbadi Holdings on Bursa Securities," Alliance IB CEO Mahesh P Rupawalla said.
Alliance IB will act as Sasbadi's principal adviser, underwriter and placement agent for the IPO exercise.