OGX Group signs underwriting agreement with UOB Kay Hian

KUALA LUMPUR (Jan 16): OGX Group Bhd (OGX) has signed an underwriting agreement with UOB Kay Hian (M) Sdn Bhd in preparation for its initial public offering (IPO) and listing on the ACE Market of Bursa Malaysia.

OGX and its its subsidiaries provide IT infrastructure solutions with a core focus on networking, cybersecurity and enterprise data centre technologies.

It operates within a brand-centric ecosystem supported by a diversified portfolio of 18 specialised products, serving customers across multiple industries and operating environments.

The group operates on a business-to-business (B2B) model, primarily with system integrators, supporting them through end-to-end solutions that include product warranties and dedicated technical support services.

It has been in the IT infrastructure solutions industry for 19 years, having commenced operations in 2007.

The IPO involves a public issue of 150.0 million new ordinary shares, representing 20.0 per cent of OGX’s enlarged issued share capital.

Of these, 37.50 million shares will be offered to the Malaysian public, while 18.75 million shares are reserved for eligible directors, senior management, employees and individuals who have contributed to the group’s success.

Another 75.00 million shares will be placed out to institutional and selected investors, with the remaining 18.75 million shares allocated to identified Bumiputera investors approved by the Ministry of Investment, Trade and Industry (MITI).

In addition, the IPO includes an offer for sale of 75.0 million existing shares, equivalent to 10.0 per cent of the enlarged share capital. These shares will be allocated via private placement to identified Bumiputera investors approved by MITI.

Non-independent non-executive chairman Tan Ting Fong said the underwriting agreement reflects the confidence of the Group’s advisers and partners in OGX’s business model.

“Supported by long-term growth prospects, we believe that our IPO will further strengthen OGX’s competitive position and expand our capacity to pursue broader and more strategic opportunities in the years ahead,” he said in a statement.

Executive director and managing director Tan Suan Loong added that the group remains focused on deepening partnerships with brand principals and system integrators, investing in talent and building a sustainable brand-centric business model.

He added that OGX is anchored in Malaysia while positioning itself to capture opportunities domestically and overseas in line with the evolving digital economy.