Yes Group Management secures Bursa approval for ACE Market IPO

Yes Group Management Bhd, a provider of meetings, incentives, conferences and exhibitions services, has been approved by Bursa Malaysia to list on the ACE Market. The IPO will comprise 91.87 million newly issued shares and an offer for sale of 45.93 million existing shares, totaling 137.80 million shares. Of the new shares, 26.50 million are allocated to Malaysian public investors, 5.30 million to eligible directors, employees and contributors, and 60.07 million to Bumiputera investors approved by the Investment, Trade and Industry Ministry.

The sale tranche includes 6.18 million shares for approved Bumiputera investors and 39.75 million for selected investors. After listing, the company’s share capital will rise to 530 million shares. Funds raised will support expansion of ground-transport services in Europe, the establishment of a UK regional office, the launch of Yes Academy for training tour leaders and managers, as well as working capital and listing costs. Managing director Angela Mak Shau Kwan highlighted the firm’s evolution into a specialist MICE operator with strong execution capabilities.