Alliance IB to handle Radiant Globaltech IPO

KUALA LUMPUR: Retail technology solutions provider Radiant Globaltech Bhd has signed an underwriting agreement with Alliance Investment Bank Bhd – its principal adviser, sponsor, sole underwriter and placement agent – for its proposed initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Bhd.
Radiant’s IPO entails the public issue of 128.1 million new shares representing 24.4% of the group’s enlarged issued share capital.
Of the 128.1 million new shares, 11.0 million shares will be for application by the Malaysian public; 21.1 million shares for eligible directors, employees and people who have contributed to the success of the group; and 96.0 million shares will be allocated for private placement to selected investors.
There will also be an offer for sale of 12 million existing shares for private placement to selected investors.
Radiant is scheduled to be listed next month.