KUALA LUMPUR (May 15): After a failed merger with Kajang-based stockbroking firm JF Apex Securities Bhd, Mercury Securities Group Bhd (MSGB) is now looking at a potential initial public offering (IPO) on the ACE Market of Bursa Malaysia. The IPO price has yet to be fixed, but MSGB's share base would be expanded to 893 million shares upon listing. Through its wholly-owned Mercury Securities Sdn Bhd (MSSB), MSGB is principally engaged in stockbroking, corporate finance advisory and other related businesses. The stockbroking segment contributed to two-thirds of the group's turnover, while the remainder came from its corporate finance division. M&A Securities, whose managing director of corporate finance is prominent dealmaker Datuk Bill Tan, is valued at RM222 million.

Source: The Edge Markets May 15, 2022 08:38 UTC