KUALA LUMPUR: Foodie Media Bhd, the company behind the popular KL Foodie brand, has signed an underwriting agreement with Maybank Investment Bank Bhd for its proposed ACE Market listing.
Maybank IB will underwrite the IPO shares offered to the Malaysian public and eligible persons, though the listing date was not disclosed.
CEO Nicholas Lim Pinn Yang said the IPO would help strengthen the group’s tech infrastructure and production capacity.
Founded in 2016, Foodie Media runs 34 brands across five countries and is involved in digital media publishing, influencer marketing, short dramas, and e-commerce campaigns.
The IPO will comprise 15.54 pc new shares and a 12.61 pc offer for sale by existing shareholders, giving investors up to 28.15 pc of the company.
Maybank IB is also the principal adviser, sponsor, and sole placement agent for the exercise.