Tri-Mode inks deal with TA, Kenanga for IPO

PETALING JAYA: Tri-Mode System (M) Bhd, which is en route to a listing on the Ace Market of Bursa Malaysia, has signed an underwriting agreement with TA Securities Holdings Bhd and Kenanga Investment Bank Bhd for its initial public offering (IPO).

Under the agreement, TA Securities will act as the group’s principal adviser, sponsor, managing underwriter, joint underwriter and placement agent while Kenanga is the joint underwriter for the IPO, it said in a statement.
Meanwhile, it said ZJ Advisory Sdn Bhd has been appointed as the financial adviser for the listing exercise.
The exercise entails an institutional offering of 35.69 million shares as well as retail offering of 7.52 million shares. The group said it had on Jan 15, 2018, received approval from Bursa Securities for the IPO.
Founded on Nov 19, 1991, Tri-Mode’s principal activities include the provision of sea freight, container haulage, airfreight, freight forwarding, warehousing and marine insurance services.